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This graph has been designed to concisely demonstrate the resilience of the Alice Springs property market. It clearly shows that despite national and international turbulence of economic and other varieties, the Alice Springs market maintained a steady upward graph - something we long suspected but wanted to prove.
The graph begins in 1989 in which The Alice Springs market is continually growing, appreciating by about $7000 per annum in value between 1989 and 1996. However it is at this point that the market peaked and stagnated for a four year period.
This period coincides with a large scale release of housing by NT Housing. With a glut of cheap properties hitting the market at the same time, this artificially brought down the median price while also easing demand pressures.
Since that time, the trend has been all upward. The median price for a three bedroom house rose from around $115,000 at that time to $456,000 in the present day - representing a very healthy profit for Alice Springs property owners over that period.
One last thing to note is that there seems to be some relation of inverse proportionality, recently, between interest rates and house/unit prices - which is natural: as interest rates go down, house/unit prices increase at a faster rate.
