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These additional funds, which are part of the efforts to boost local jobs and underpin economic growth, build on the earlier $147m infrastructure investment announced by the federal and the Northern Territory governments in November. The funding is expected to help the territory as it recovers from the impacts of the COVID-19 pandemic.
According to CoreLogic, the share of advertised rental housing increased in Sydney and in Melbourne, bucking the downtrend recorded by the rest of capital city markets. The share of advertised rental stock increased to 4.5% in Sydney and to 3.6% in Melbourne.
The Western Australian capital recorded its highest property sales in the week ending 21 June, hitting over 1,000 transactions for dwellings and vacant land.