The Northern Territory is topping the charts for building approvals as latest data shows the strongest growth in the country.
According to the Australian Bureau of Statistics, the Territory recorded a 69.7% year-on-year increase in the number of residential building approvals for February 2025 - well above the national average of 16.1%.
The Territory also saw a 5.7% monthly increase, the second-best result among all jurisdictions.
The value of residential approvals doubled, increasing over the year to $38.4 million, signalling strong demand for housing and a growing pipeline of construction activity.
The Territory's non-residential building approvals increased by a staggering four fold increase to $127.3 million over the year.
Treasurer and Minister for Logistics and Infrastructure Bill Yan said: "These are the kinds of numbers you want to see."
"They show that our economy is moving in the right direction, which is what we promised Territorians we would do," he said.
"This is clear evidence that confidence is returning to the Territory, investment is picking up, and our policies to boost construction and drive private sector growth are working."
Mr Yan said the turnaround was no coincidence because the CLP's HomeGrown Territory Grants scheme, which launched on October 1 last year, has played a key role in stimulating activity.
"It's no surprise that building numbers have turned around with our HomeGrown scheme now reaching more than 500 applications in its first six months," he said.
"HomeGrown has proven to be a stimulus to the property building sector as we see the construction sector respond positively."
After years of stagnation under Labor, the Territory is building momentum again.
"We've seen some big jumps from the low base set by Labor over the past four years," said Mr Yan.
"The last few years have been some of the lowest private building activity that Darwin has seen. With HomeGrown, we jolted it back to life."
Mr Yan added: "Given 2025 is our year of action, certainty and security, we've got to build on this momentum because turning the economy around is about attracting private investment."
Earlier this week, the Finocchiaro CLP Government revealed more than 500 people had applied here for HomeGrown Territory grants - a strong sign that confidence is returning.
The government remains focused on rebuilding the economy, creating jobs, and delivering the homes, facilities, and services that Territorians need.
