Of course, this edition of Territory Q is not just about OBM. There are many other great stories. Stories about giving back to the community, such as the National Critical Care and Trauma Response Centre. Stories about the Territory as the land of opportunity, such as Stuart Knowles rising from 15-year-old army apprentice mechanic to manager of the Ichthys gas project in Darwin to Territory Coordinator, whose job is one of the most important in this part of the world – attracting private investment. And, of course, the background story of our pin-up boy Raymond Pratt.

I welcome Ventia into TQ’s pages for the first time. The company is the largest employer in the NT outside of government. I welcome Andrew Harding of Ray White Darwin, a 24/7 real estate agency concentrating on high-end properties. And I welcome NBN, the company that keeps us all in business and connected.

This edition demonstrates again that companies such as Santos, DCOH and INPEX continue to play major roles in our economy. But stories on infrastructure, housing, water resources and agriculture show the continued importance of government investment. 

We are excited to see more cranes in the sky. Beetaloo is pushing on and the trials for Fortune Agri have gone well. March 2025, the NT Property Sector Quarterly Report, with input from KPMG, is being recognised as the gold standard for market intelligence in the Territory. These quarterly reports are worth a read. Tracking indicators, such as housing approvals, vacancy rates, construction activity, employment, inflation, tourism and community safety, in the quarterly reports are designed to inform, guide and shape what is happening beyond the tea leaves.

Quoting from the report: Residential building approvals surged by 51.2 per cent, while construction activity rose 5.1 percent to reach $905 million. Rental vacancy rates tightened to 3.3 percent in Darwin and 2.9 percent in Alice Springs. Full-time employment increased by 1.5 percent and unemployment dropped to 3.6 percent.

Alice Springs is showing strong signs of growth. House prices climbed from $440,000 to $504,000, with house and unit sales both rising by more than 30 percent.

Executive Director of the Property Council NT, Ruth Palmer, says the report reinforces growing momentum in the Territory’s housing and investment market.

“We’re starting to see real movement – more approvals, higher building activity, and regional growth tell us confidence is coming back.”

Part of that residential movement is due to the Northern Territory Government HomeGrown Initiative grant of $50,000 and FreshStart New Home Grant of $30,000, which have been extended until 30 September 2026. This is a good move. More than 900 Territorians have accessed grants totaling $12.3 million. This has supported over 200 new home builds and resulted in a 23.4 percent increase in first-time homebuyers — the highest in Australia.

Snapshot by the numbers shows the NT’s economy 2025-26 GSP is projected to grow by 7.8 percent. The NT’s projected growth is outperforming national forecasts, which hover in the 1.8–2.3 percent range. The NT’s economic surge is largely tied to the Beetaloo and Barossa LNG projects, whereas Australia’s growth remains measured and cautious due to widespread structural and global trade challenges. Australia’s average growth over the forward years is modest, but the NT’s average of 3.2 percent remains above the national trajectory of 2.4 percent. So with this information you need to talk the Territory up.

I also want to throw through my support behind the Special Economic Zone recommendation that came from the recent Bush Summit in Darwin. When I was Chair of Activate Darwin this point came up as a suggestion as well and it’s a good one. As a business owner who for five years partnered with a national group, I was hit with a grudge payroll tax bill of over $80,000 per annum based on the combined group, although I operated independently as a registered NT business. My business, which is considered small and only employs Territorians, was not exempt, so I think making Territory registered business exempt of payroll tax is a great place to start because it has direct economic benefits. After the split and share buy-back in April of this year, I immediately saved what acquaints to a full-time salary, which I can redirect to employ another person. 

In my spare time, I have taken a few months digging into the archives and bring you a business history story on trepang. My curiosity peaked after the humble sea cucumber was increasingly being pilfered off our coastline and it seems the NT can rightly claim Australia’s first export product by Aboriginal entrepreneurs.

We are also making time to travel and cover destination stories again. I had an amazing trip to Sentosa island in Singapore, which I fully recommend, and we will be launching our quirky TERRITORY SKI TRIP series Territory – SKI stands for Spend Kids’ Inheritance – showcasing 5-star experiences in our own backyard in the next issue, starting with Finniss River Lodge.

The previous Territory Q edition was a hit with Tony and Lib’s 50 years of NT Link. What a story. It’s a pleasure to play it forward and sponsor the Down Syndrome NT milestone of 40 years – it’s organisations such as these that create the fabric of our community.

Territory Q is celebrating a milestone in January with our 50th edition. Get in touch with your company milestone and celebrate your people. Whether it’s 10, 20, 30, 40 years, it’s worth acknowledging – and if you think you have a premium property we can cover in our TERRITORY SKI TRIP series, contact publisher@territoryq.com.au

Anya Lorimer

Publisher 

TerritoryQ Magazine