Published on July 30th, 2012
Taking a closer look at Alice Springs
Despite having a reputation that often precedes itself, the city of Alice Springs is home to a thriving property market.
Elders state franchise manager Sean Connors said that there were plenty of opportunities for investors to buy in the Northern Territory's third largest town.
"Alice Springs is actually a fantastic market despite being quite insular and there is a lot of government employment there which leads to better rentals," he said.
High employment levels in the public sector have helped to protect Alice Springs from many of the problems that are now facing the rest of the country.
According to the June quarter figures from RP Data, the median house price for Alice Springs is $528,000 and units are selling for $425,000 on average.
Demand for property is also strong despite a dip in January this year, and the latest reports show that there are roughly four people looking per house.
Underlying the rising demand for housing may be recent population increase, which has seen the number of residents in the Alice Springs local government area grow steadily over the past ten years to reach a peak of 27,957 in 2011.
Along with work in the public sector, the tourism industry is also showing strong signs of recovery after the fallout of the GFC.
The town's reputation as a cultural icon means that it continues to attract guests from across the country, as well as international travellers.
Mr Connors believes that it is the combination of these features, rather than one individual factor, that is helping to change the way buyers see the town.
"It might not have the best reputation, but this is a minor issue in the scheme of things. It is actually quite an attractive place for investors."