NT State Final Demand fell -1.9% over the year, the slowest nationally
NT State Final Demand contracted -1.9% over the year to Jun-26 to $34.8bn, tracking 5.0pp slower than the national 3.1% expansion and 2.2pp below its 10-year average. With annual per capita demand falling -3.4%, NT recorded the slowest growth of the eight states and territories on both measures despite a quarterly uptick of 0.2%. Against the other states, NT ranks state final demand growth lowest of 8 states (2026-Jun) and capital city house price growth highest of 8 states (2026-Jun).
Cash rate and bond yields, exchange rates and commodities, and equities and superannuation are national series with no state breakdown — see the Australia page.
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The Northern Territory economy this week
5 key pointsNT leads capital house prices at +21.4% while annual demand falls -1.9%
Northern Territory presents a sharply divergent economy. State Final Demand fell -1.9% in the year to Jun-26, the slowest of the eight states and territories, alongside wage growth of 2.8%. Yet household spending per capita rose 8.9% to lead all states and territories, and Darwin capital house prices climbed 21.4% to pace the nation. Population expanded 1.5% to 268,899 as overseas migration balanced net interstate outflows of -1,589, keeping housing tight with CPI at 3.7%.
1
NT State Final Demand fell -1.9% over the year to Jun-26, the slowest of the eight states and territories and growing 5.0pp slower than Australia.
2
NT capital city house prices rose 21.4% over the year to Jun-26 to $752k, the fastest of the eight states and territories.
3
NT household spending per capita reached $10,293 in Jul-26, growing 8.9% over the year as the fastest of the eight states and territories.
4
NT Wage Price Index grew 2.8% over the year to Jun-26, the slowest of the eight states and territories and growing 0.4pp slower than Australia.
5
NT population grew 1.5% over the year to Mar-26 to reach 268,899, sitting mid-pack among the eight states and territories and growing 0.1pp faster than Australia.
Economy
GDP & Economic Output
State Final Demand
$34.8bn
-1.9%
Australia $2,753.8bn (+3.1%)
NT as at 2026-Jun
State Final Demand per Capita
$129,550
-3.4%
Australia $98,629 (+1.6%)
NT as at 2026-Jun
NT State Final Demand fell -1.9% over the year, the slowest nationally
NT State Final Demand contracted -1.9% over the year to Jun-26 to $34.8bn, tracking 5.0pp slower than the national 3.1% expansion and 2.2pp below its 10-year average. With annual per capita demand falling -3.4%, NT recorded the slowest growth of the eight states and territories on both measures despite a quarterly uptick of 0.2%.
State Final Demand in NT totalled $8.8bn in the Jun-26 Quarter, reaching $34.8bn over the rolling year. Annual demand contracted -1.9% compared to the prior year. This -1.9% annual growth is below the 10-year average of +0.3%, trailing by 2.2pp. While the quarterly figure showed a slight gain of 0.2%, rolling annual demand has decelerated into contraction.
State Final Demand per capita stood at $129,550 annually in Jun-26. While headline quarterly demand ticked up 0.2%, annual per capita demand contracted -3.4%. NT per capita demand is 31.4% above Australia's $98,629, but growth is 5.0pp slower than the national +1.6% pace, reflecting ongoing dilution in economic output per resident.
NT's annual State Final Demand contraction of -1.9% was the slowest of the eight states and territories, well behind SA (+3.7%) and trailing next slowest TAS (-0.2%). Nationally, Australia expanded +3.1%, leaving NT growing 5.0pp slower than Australia. States are compared on State Final Demand as state GDP is not published.
NT against the other states
8
State Final Demand growth — Lowest of 8 states
at -1.9% (2026-Jun)
small base
8
State Final Demand per Capita growth — Lowest of 8 states
at -3.4% (2026-Jun)
small base
States are compared on State Final Demand. GDP by state is not published - national GDP is on the Australia page.
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Population & Migration
Population
268,899
+1.5%
Australia 27,921,150 (+1.4%)
NT as at 2026-Mar
Net Overseas Migration
3,585
-6.2%
Australia 292,137 (-5.6%)
NT as at 2026-Mar
Net Interstate Migration
-1,589
-690 people
NT as at 2026-Mar
NT population reached 268.9k in Mar-26, growing 1.5% over the year
Northern Territory's population reached 268.9k as at Mar-26, expanding 1.5% over the year to sit mid-pack among the eight states and territories and 0.1pp faster than Australia. Net overseas migration added 3.6k people despite falling -6.2% YoY, while natural increase fell -17.0% and net interstate migration dropped -5.9 per 1,000 residents.
Northern Territory's population reached 268.9k as at Mar-26, with an annual increase of 1.5% over the year. This 1.5% growth is growing 0.1pp faster than Australia's 1.4% rate. Population growth has moderated from earlier peaks as migration inflows ease across the country.
Growth comprised 3.6k persons from overseas migration, 1.8k from natural increase, and a net loss of -1,589 persons to other states. Overseas migration fell -6.2% YoY against its 10-year average of +9.5% (-15.7pp). Natural increase contracted -17.0% YoY against its 10-year average of -4.4% (-12.6pp). Net interstate migration worsened by -690 people YoY, leaving overseas arrivals as the sole driver.
NT population growth of 1.5% placed it mid-pack among the eight states and territories, behind WA (+2.1%) but ahead of TAS (+0.6%). In interstate flows, NT lost -5.9 per 1,000 residents, recording the lowest of the eight states and territories, behind ACT (-2.9 per 1,000) and WA (3.3 per 1,000).
NT against the other states
4
Population growth — 4th of 8 states
at 1.5% (2026-Mar)
small base
8
Net Interstate Migration per 1,000 People — Lowest of 8 states
at -5.9 per 1,000 (2026-Mar)
small base
Net interstate migration is ranked per 1,000 residents so it is not simply a ranking of state size. Australia-wide it nets to zero.
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Property
Development Activity
Dwelling Approvals (rolling year)
881
+24.6%
Australia 206,298 (+8.8%)
NT as at 2026-Jul
Dwelling Approvals per 1,000 People
3.3 per 1,000
+22.2%
Australia 7.4 per 1,000 (+7.2%)
NT as at 2026-Jul
NT dwelling approvals rose 24.6% to 881 in the year to Jul-26
NT dwelling approvals expanded 24.6% to 881 in the year to Jul-26, the second-fastest of the eight states and territories and 15.8pp faster than Australia. However, approvals per 1,000 people stood at 3.3, the lowest of the eight states and territories. Completions rose 27.8% while commencements grew 10.4%.
Dwelling approvals in NT totalled 881 in the year to Jul-26, up 24.6% compared to the prior year. On a per capita basis, NT recorded 3.3 approvals per 1,000 persons, which rose 22.2% over the year. Approvals have demonstrated recovery following earlier subdued periods.
The residential pipeline shows 881 approvals (up 24.6%), 698 commencements (up 10.4%), and 597 completions (up 27.8%). House approvals rose 40.1% vs 10-year average growth of -3.5% (+43.6pp), while completions growth of +27.8% exceeded its 10-year average of -10.2% (+38.0pp). Commencements lag completions and approvals, pointing to conversion bottlenecks.
NT approvals growth of 24.6% was the second-fastest of the eight states and territories, behind ACT (+39.4%) and outperforming Australia (+8.8%, growing 15.8pp faster than Australia). At 3.3 approvals per 1,000 people, NT is 4.1pp below Australia (7.4 per 1,000) and the lowest of the eight states and territories. Commercial industrial rose 108.7% and retail rose 81.5%, while office fell -63.4%.
NT against the other states
2
Dwelling Approvals (rolling year) growth — 2nd highest of 8 states
at 24.6% (2026-Jul)
small base
8
Dwelling Approvals per 1,000 People — Lowest of 8 states
at 3.3 per 1,000 (2026-Jul)
small base
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Housing Market
Capital City House Price
$753k
+21.4%
Australia $1.09m (+5.5%)
NT as at 2026-Jun
Regional House Price
$450k
+1.3%
Australia $745k (+8.9%)
NT as at 2026-Jun
NT capital house prices rose 21.4% to $752,500, leading the nation
Darwin capital house prices climbed 21.4% over the year to $752,500 in Jun-26, the fastest of the eight states and territories and 15.9pp faster than Australia. Attached dwellings rose 17.1% to $445,500. Regional house prices remained subdued at $450,000, rising 1.3% as the slowest of the seven reporting states and territories.
The median house price in NT capital city reached $752,500 in Jun-26, up 21.4% over the year. This compares to 10-year average growth of +3.2%, outperforming by +18.2pp. Capital attached prices reached $445,500, up 17.1% over the year vs its 10-year average of +0.2% (+16.9pp). Regional house prices reached $450,000, up 1.3%.
Affordability across the Territory remains favourable compared to southern capitals. Capital city attached dwellings sit at 4.10x annual household income, below the 10-year average of 4.35x (-5.8%). In regional NT, the house price to income multiple stands at 4.14x vs its 5.44x average (-23.9%), while regional attached dwellings stand at 3.13x vs its 3.92x average (-20.2%), keeping housing accessible.
Sales activity diverged as capital attached volumes rose 52.5% and regional house sales rose 28.7%, whereas capital house sales fell -8.7%. Darwin's 21.4% house price growth was the fastest of the eight states and territories, beating QLD (+18.8%) and Australia (+5.5%). Regional NT's 1.3% price growth was the slowest of the seven reporting states and territories, trailing WA (+20.9%).
NT against the other states
1
Capital City House Price growth — Highest of 8 states
at 21.4% (2026-Jun)
small base
7
Regional House Price growth — Lowest of 7 reporting
at 1.3% (2026-Jun)
small base
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Housing Finance
Housing Finance Commitments
$576m
+12.5%
Australia $99.0bn (+6.6%)
NT as at 2026-Jun
New-Build Share of Lending
15.1%
+2.3pp
Australia 18.2% (+2.1pp)
NT as at 2026-Jun
NT housing finance rose 12.5% to $576m in Jun-26, outpacing the nation
Housing finance commitments in NT totalled $576m in Jun-26, up 12.5% over the year to outpace Australia's 6.6% growth by 5.9pp and sit mid-pack among the eight states and territories. Owner-occupiers took the larger share at $325m (up 14.8%) while investors secured $250m (up 9.7%). New builds accounted for 15.1% of lending.
Housing finance commitments in NT totalled $576m in Jun-26, up 12.5% compared to a year ago. Growth outpaced Australia's 6.6% rate, growing 5.9pp faster than Australia. Lending volumes have expanded from previous quarters as buyer activity responded to tight housing conditions.
Owner-occupiers accounted for $325m in commitments, up 14.8% over the year, taking the larger share of total lending. Investor lending rose 9.7% to $250m. Investor growth trailed its 10-year average growth of +13.9% by -4.2pp, reflecting moderate investor borrowing relative to owner-occupiers.
Lending for new builds totalled $87m, up +50.9% against its average of $58m, while existing dwelling lending reached $488m, up +51.3% against its average of $323m. New builds captured 15.1% of purchase lending, above the 13.5% average recorded since 2019 (+1.63pp). This 15.1% share is 3.1pp below Australia's 18.2%, ranking the third-lowest of the eight states and territories. Total commitments growth of 12.5% sits mid-pack among the eight states and territories.
NT against the other states
5
Housing Finance Commitments growth — 5th of 8 states
at 12.5% (2026-Jun)
small base
6
New-Build Share of Lending — 3rd lowest of 8 states
at 15.1% (2026-Jun)
small base
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Jobs & wages
Employment
Unemployment Rate
4.4%
+0.8pp
Australia 4.5% (+0.2pp) · 2026-Jul
NT as at 2026-Mar
Total Employment
146k
+0.7%
Australia 14.81m (+1.3%) · 2026-Jul
NT as at 2026-Mar
Northern Territory figures for this section are published to 2026-Mar.
The figures above are NT's own latest, alongside the national series at its later date. Written analysis returns once NT publishes on the same period as the other states.
NT against the other states
–
Unemployment Rate — not ranked (latest 2026-Mar);
the 6 states compared are at 2026-Jul
–
Total Employment growth — not ranked (latest 2026-Mar);
the 6 states compared are at 2026-Jul
Not in this comparison: NT (latest 2026-Mar), ACT (latest 2026-Mar).
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Job Advertisements
Job Advertisements
8,191
-7.7%
Australia 627,215 (-1.7%)
NT as at 2026-Jul
NT job ads fell -7.7% to 8,191 in Jul-26, pointing to cooling demand
NT job advertisements dropped -7.7% over the year to 8,191 in Jul-26, growing 6.0pp slower than the national -1.7% contraction to rank equal second-slowest of the eight states and territories. Professional ads led the retreat at -12.2% YoY, trailing its 10-year average by -16.9pp, while industrial ads fell -2.1%.
Job advertisements in NT totalled 8,191 in Jul-26, falling -7.7% compared to a year ago. This growth of -7.7% is below the 10-year average growth of +3.4%, trailing by -11.1pp. Advertising has receded from earlier peak levels, signalling a cooling trend in recruitment demand across the Territory.
Professional job ads totalled 2.4k, declining -12.2% YoY vs 10-year average growth of +4.7% (-16.9pp). Sales ads fell -12.4% YoY vs 10-year average growth of +1.5% (-13.9pp). Industrial ads contracted -2.1% YoY vs 10-year average growth of +3.4% (-5.5pp) to 1.8k. Professional hiring demand has experienced the sharpest pullback relative to trend.
Total NT job ads contracted -7.7%, growing 6.0pp slower than Australia's -1.7%. NT was equal second-slowest of the eight states and territories, level with ACT and well behind SA's +3.3% increase. As job advertisements lead hiring activity, these declines reflect softening labour demand in the Territory.
NT against the other states
7
Job Advertisements growth — Equal 2nd lowest of 8 states
at -7.7% (2026-Jul)
small base
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Wages & Earnings
Wage Price Index
159.3
+2.8%
Australia 161.2 (+3.2%)
NT as at 2026-Jun
Full-Time Weekly Earnings
$2,092
+2.3%
Australia $2,157 (+3.5%)
NT as at 2026-May
NT Wage Price Index rose 2.8% in Jun-26, the slowest in the country
The NT Wage Price Index rose 2.8% over the year to Jun-26, the slowest of the eight states and territories and trailing Australia's 3.2% growth by 0.4pp. Full-time weekly earnings reached $2,092 in May-26, up 2.3% YoY. With CPI inflation at 3.7% outpacing wage gains, Territory workers experienced negative real wage growth.
Wages grew 2.8% over the year to Jun-26, as measured by the Wage Price Index, reaching an index level of 159.3. The index stands +13.8% above its average level of 139.9. However, annual wage growth has moderated from earlier highs, lagging behind broader national momentum.
Full-time weekly earnings in NT stood at $2,092 in May-26, with annual earnings of $107,533. Weekly earnings rose 2.3% over the year. With inflation running at 3.7%, wage growth of 2.8% meant real wages contracted, eroding household purchasing power over the period.
NT's 2.8% WPI growth was the slowest of the eight states and territories, trailing SA (+3.6%) and next slowest TAS (+2.9%), and growing 0.4pp slower than Australia's +3.2%. Weekly earnings of $2,092 sat 3.0% below the Australian figure of $2,156, growing 1.2pp slower than Australia's +3.5%.
NT against the other states
8
Wage Price Index growth — Lowest of 8 states
at 2.8% (2026-Jun)
small base
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Households
Household Consumption
Household Consumption
$3.8bn
+2.6%
NT as at 2026-Jun
Household Consumption per Capita
$14,165
+1.1%
NT as at 2026-Jun
NT household consumption rose 2.6% in the year to Jun-26 to $3.8bn
NT household consumption expenditure reached $3.8bn in the Jun-26 Quarter, rising 2.6% over the year. On a per capita basis, consumption climbed 1.1% to $14,165, ranking as the second-fastest of the eight states and territories. Essential spending grew steadily while alcohol outlays declined -1.5%.
Household consumption expenditure in NT totalled $3.8bn in the Jun-26 Quarter, rising 2.6% over the year. On a per capita basis, annual consumption reached $14,165, an increase of 1.1% over the prior year. These National Accounts figures show steady consumer activity across the Territory.
Essential spending remained supported, with food expenditure reaching $335m, up 1.8% over the year, while health spending rose 1.2% vs its 10-year average of +4.3% (-3.1pp). Discretionary spending was restrained, as alcohol consumption fell -1.5% against its 10-year average of +2.7% (-4.2pp), reflecting belt-tightening on non-essential items.
NT's household consumption per capita growth of 1.1% was the second-fastest of the eight states and territories, behind TAS (+1.5%) and ahead of VIC (+0.0%). Total household consumption rose 2.6% over the year to reach $3.8bn in Jun-26.
NT against the other states
2
Household Consumption per Capita growth — 2nd highest of 8 states
at 1.1% (2026-Jun)
small base
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Household Spending
Household Spending
$2.8bn
+10.1%
Australia $244.5bn (+6.2%)
NT as at 2026-Jul
Household Spending per Capita
$10,293
+8.9%
Australia $8,757 (+4.9%)
NT as at 2026-Jul
NT household spending rose 10.1% to $2.8bn in Jul-26, leading per capita
Monthly household spending in NT reached $2.8bn in Jul-26, rising 10.1% over the year to outpace Australia by 3.9pp. Spending per capita reached $10,293, up 8.9% over the year as the fastest of the eight states and territories. Recreation and miscellaneous categories drove strong gains.
Household spending in NT totalled $2.8bn in Jul-26, rising 10.1% compared to a year ago. This growth outpaced Australia's +6.2% by 3.9pp. On a per capita basis, spending reached $10,293, up 8.9% over the year and 29.5% above its average level of $7,951.
Essential spending saw food reach $376m, up 9.1% over the year, while health spending contracted -5.9% vs its 10-year average of +6.0% (-11.9pp). Discretionary spending expanded markedly in miscellaneous goods (+25.5% vs avg +6.4%, +19.1pp), recreation (+17.3% vs avg +5.3%, +12.0pp), and furnishings (+11.3% vs avg +4.4%, +6.9pp), while alcoholic beverages and tobacco fell -2.0% to $100m.
NT's household spending per capita growth of 8.9% was the fastest of the eight states and territories, ahead of TAS (+7.5%) and ACT (+4.0%). Per capita spending of $10,293 sits 17.5% above Australia ($8,757), growing 4.0pp faster than Australia (+4.9%), indicating strong nominal expenditure despite negative real wage growth.
NT against the other states
1
Household Spending per Capita growth — Highest of 8 states
at 8.9% (2026-Jul)
small base
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Inflation & Cost of Living
Consumer Price Index
103.2
+3.7%
Australia 103.1 (+3.5%)
NT as at 2026-Jul
Housing CPI
106.8
+7.4%
Australia 104.7 (+5.0%)
NT as at 2026-Jul
NT inflation stood at 3.7% in Jul-26, driven by a 7.4% rise in housing
Consumer Price Index inflation in NT ran at 3.7% over the year to Jul-26, 0.2pp faster than Australia's 3.5% and mid-pack among the eight states and territories. Inflation remains above the RBA's 2-3% target band. Housing CPI rose 7.4%, the third-fastest of the eight states and territories, placing persistent pressure on household budgets.
Inflation in NT was 3.7% in the year to Jul-26, with the index reaching 103.2. This 3.7% rate remains above the Reserve Bank of Australia's 2-3% target band. Headline inflation is growing 0.2pp faster than Australia's 3.5%, reflecting persistent price pressures across the Territory.
Housing costs were the primary inflation driver, with Housing CPI rising 7.4% over the year to reach an index level of 106.8, which sits 19.2% above its average level of 89.6. Other CPI components recorded more moderate gains, including an index reading of 103.5, up 3.1% YoY (19.7% above its average of 86.5).
NT headline inflation of 3.7% placed it mid-pack among the eight states and territories, level with QLD and between ACT (+3.2%) and TAS (+4.5%). Housing CPI growth of 7.4% was the third-fastest of the eight states and territories, growing 2.4pp faster than Australia (5.0%). With wage growth at 2.8%, NT workers experienced negative real wage growth.
NT against the other states
4
Consumer Price Index growth — Equal 4th of 8 states
at 3.7% (2026-Jul)
small base
6
Housing CPI growth — 3rd highest of 8 states
at 7.4% (2026-Jul)
small base
CPI is ranked lowest to highest. A low reading is not automatically a good outcome - it is stated as a position, not a verdict.
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