News

Economic News from Darwin – 10 April 2017

2017-04-09 NT News: First homeowner grant raising demand

The Northern Territory real estate market is continuing to show signs of resurgence as newly released data reveals year-on-year buyer demand is up 24.5%.

2017-04-03 Property Wire: Property prices up in all Australian capital cities

Month on month the highest rise was in Darwin and Hobart with growth of 3.1%.

2017-04-07 NT News: Inpex workforce to linger

A substantial construction workforce will remain on the $50 billion Inpex LNG project into 2018…
Construction and commissioning of the 2nd LNG processing train and other ancillary scopes is scheduled to continue into 2018. The current production well drilling campaign is scheduled to continue into 2019.

2017-04-09 ABC Lateline: Minister for Resources & Northern Australia Matt Canavan

Gas resources in the Territory… a great potential to grow the Northern Territory economy...
What it really potentially bodes well for the Territory is a way and means to develop their own energy security, to potentially develop their own manufacturing industry… we're also investing $100 million across northern Australia to research what exists below us, including the groundwater resources, which will be so crucial to any gas development in the Territory.

2017-04-07 ABC News: Top End abattoir applies to access Chinese beef market

The owner of the Northern Territory's Livingstone Beef abattoir says it hopes to soon sell meat to China, capitalising on increased market access… Australian Agricultural Company’s Managing director Jason Strong said the industry had been focused on China for some years, with the free trade agreement paving the way. "Any increase in market access for beef is a great opportunity… and China has been a fantastic market for us over the last few years.”

2017-04-05 AFMA: Northern Prawn Fishery banana prawn bonanza!

The Northern Prawn Fishery 2017 banana prawn season has got off to a great start with catches some of the best for several years.

2017-04-04 NT News: $1.5b prawn farm gets Bynoe tick

One of the world’s largest prawn farms is another key step closer to becoming a reality in the Northern Territory. Just weeks after the Northern Territory Environmental Protection Authority recommended approval of Project Sea Dragon Pty Ltd’s proposed Legune Station facility, near the WA border, it has completed its assessment of the proposed Bynoe Harbour facilities… Seafarms Group Limited executive director Dr Chris Mitchell said it was another step toward obtaining approvals and permission needed for the prawn aquaculture project to go ahead and provide jobs and economic opportunities for residents in Dundee Beach and Darwin.

2017-04-07 NT News: Territory high on list for airlines

Australian airlines have proven they have confidence in the Northern Territory by putting on almost 900 additional flights in 2016 compared to the year prior… Darwin International Airport, Ayers Rock Airport and Alice Springs Airport saw a combined 5.82% increase in the number of passengers arriving and departing compared to 2015.

2017-04-07 Charles Darwin University rankings

2017’s Times Higher Education Young University Ranking Top 200 under 50: CDU is 34th, and 5th in Australia, and 1st for the Innovative Research Universities. 2017’s Times Higher Education Top 50 Gen Y Universities: CDU is 11th, and 4th in Australia.

2017-04-05 NT News: Overseas student push

A high-level delegation of international education agents… has given Darwin the thumbs up as a potential growth market. 11 countries make up the delegation which visited all CDU facilities, Essington International School and International College of Advanced Education. The increasing international student market currently contributes $81 million and 450 jobs to the NT economy. There are 2319 international students currently studying in the Territory… This is a significant step towards the Territory getting a greater share of Australia’s international students. There has been double digit growth here over the past 9 to 10 years.

2017-03-31 Media Release: Federal plan for jobs and investment in the NT

NT and Queensland sign agreement to allow NAIF funds to flow once applications are assessed.. 14% of NAIF project inquiries are from the NT. Ministers from all 3 States and Territories, and the Commonwealth, will meet mid-year for a dedicated Joint Ministerial Forum on Developing the North.

2017-04-03 Economic Brief: Retail Trade February 2017

The Territory reported the equal highest monthly growth in retail trade (0.3%), equal to South Australia.

 

Disclaimer
The above information has been compiled by Gwelo (the Agent) from third party providers. The Agent has not verified whether the above information is accurate and does not have any belief one way or the other as to its accuracy. The Agent does no more than pass on the information. The Agent does not accept any responsibility to any person for its accuracy. All interested parties should make and rely upon their own enquiries in order to determine whether or not the information is, in fact, accurate.

12 O’Sullivan Circuit, East Arm NT 0822 +61 08 8943 7300 enquiries@ gwelodevelopments.com.au

Gwelo Developments has built a strong reputation in Darwin since 1975 and the company is well known and respected. Its developments have stood the test of time and been highly innovative and the Gwelo team is a strong team of long established professionals. Skills encompass a full range of construction and project management, commercial developments and residential design providing outstanding home owner, commercial, retail and investor options.

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