Suburb Profile Report for Alice Springs NT (0870)

Alice Springs House: Median price $299,950, Annual capital growth 12.41%, Number of sales 26, Weekly median advertised rent $375

Alice Springs Unit: Median price $257,250, Annual capital growth 9.42%, Number of sales 10, Weekly median advertised rent $278

Source: CoreLogic

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Property investors who have had real estate in Alice Springs, 0870 should be relatively pleased with this NT suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 5.71%

Alice Springs,0870 was ranked 523 in Australia by increase in median property value over the quarter.

At number 50th in the list of Australian suburbs ordered by increase in median house value over the last year, Alice Springs, 0870 is in the top 10% with a property value increase of 24.58% recorded in median house prices.

Alice Springs,0870 has offered an average of 24.58% return per annum in house price rises to property investors over the last three years.

The NT suburb of Alice Springs, 0870 is in the ALICE SPRINGS local government area.

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Set alongside one of Central Australia’s most popular scenic attractions, the MacDonnell Ranges, a solid tourism-based economy makes Alice Springs an appealing place for property investors.Full summary

Set alongside one of Central Australia’s most popular scenic attractions, the MacDonnell Ranges, a solid tourism-based economy makes Alice Springs an appealing place for property investors.

Tourism generates 24% of the region’s economy, according to a recent Tourism Research Australia report, while mining, agriculture, and defence, are other key industries for the town. Together, these bring a lot of people into the area; not just tourists either, but also contractual workers and their families.

All travel operators in the territory have bases in the town, while 3.7% of the workforce is employed in the hospitality and accommodation sectors. The Northern Territory government is also a significant employer in Alice Springs, employing 7.5% of the town’s working population.

It’s the second largest town in the Northern Territory and is situated almost halfway between Darwin and Adelaide. A long 18-hour drive from Darwin, the town is a major service centre for nearby communities and caters for a regional population of more than 30,000. According to ABS estimates, the town has experienced population growth of 4% over the last four years, with strong demand but limited housing stock making for a competitive rental market.

Five people are looking at every available property, says property site, with renters making up 39% of the property market in 2006, according to SQM Research data. Meanwhile, rental yields sit at a solid 6%, with RP Data July figures putting median advertised rent for houses at $500pw. SQM Research estimates also recorded vacancy rates at a low 1.3% in August this year.

President of the Real Estate Institute of the Northern Territory, Quentin Kilian, says property investors can expect these trends to continue.

“As long as the demand stays there, and we don’t see any reason it shouldn’t, and supply is low, your prices are going to be high,” Kilian said.

Alice is also relatively affordable, with median house prices in Alice Springs sitting between $400,000 and $450,000. Investors should also note rising incomes in the town, with ABS estimates showing average salaries as having increased $4,988 in the three years to 2008 to $42,796. Simultaneously, unemployment fell between 2005 and 2009 from 5.7% to 2.4%, indicating increased productivity and wealth in the local economy.

Elders Alice Springs sales agent, Lindsay Carey, says ongoing employment opportunities in the area means investors can be assured healthy rental returns on their properties.

“You can spend $400,000 inter-state and get $300 a week rent, but here you get a three-bedroom house and close to $500 a week rent. Your investment opportunities and returns are very strong,” says Carey.

Government plans to subdivide land for housing in southern Alice Springs are expected to boost activity in the town’s property market, and provide investors with more rental opportunities. This, teamed with an already strong rental market and buoyant local economy, ensures Alice Springs will not only remain the ‘Red Centre’ of Australia, but also a centre for investment opportunities.

Metrics i HOUSE UNIT
$299,950 $257,250
2.55% 5.95%
5.71% 24.58%
12.41% 9.42%
$375 $278
26 10
6.50% 5.61%
74 65

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
Find a mortgage broker in Alice Springs NT
Total population 347
Median household income ($/weekly) 900
Median age of persons 32
Median housing loan repayment ($/monthly) 2435
Average household size 1.6
  • Census Count Percent(%)
    15-19 years 41 11.7
    25-34 years 74 21.2
    35-44 years 66 18.9
    45-54 years 52 14.9
    55-64 years 34 9.7
    Others 82 23.5
    Age Group
    Census Count Percent(%)
    Not Married 114 64.0
    Registered Married 55 30.9
    Defacto Relationship 9 5.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 184 65.2
    Indonesia 14 5.0
    Papua New Guinea 18 6.4
    United Kingdom 10 3.5
    Other 26 9.2
    Others 30 10.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 13 5.1
    Christianity 158 61.7
    Hinduism 3 1.2
    Other Religious Groups 11 4.3
    No Religion 68 26.6
    Others 3 1.2
    Religious Affiliation
  • Census Count Percent(%)
    $200-$299 27 27.6
    $300-$399 6 6.1
    $800-$999 11 11.2
    $1,000-$1,249 9 9.2
    $1,500-$1,999 12 12.2
    Others 33 33.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 96 43.2
    Not in the labour force 71 32.0
    Employed, worked part-time 33 14.9
    Unemployed, looking for work 13 5.9
    Employed, away from work 9 4.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 21 14.6
    Professionals 25 17.4
    Technicians & trades workers 20 13.9
    Community & personal service workers 19 13.2
    Labourers 19 13.2
    Others 40 27.8
    Census Count Percent(%)
    Infants/Primary 9 11.1
    Secondary 53 65.4
    Technical or Further Educational Institution 4 4.9
    University or other Tertiary Institutions 6 7.4
    Other type of educational institution 6 7.4
    Others 3 3.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Improvised home, tent, sleepers out 69 37.9
    Flat, unit or apartment 61 33.5
    Separate house 28 15.4
    Semi-detached, row or terrace house, townhouse 24 13.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 69 95.8
    Being purchased 3 4.2
    Fully owned 0 0.0
    Other tenure type 0 0.0
    Tenure Type
Census 2011, ABS
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