The average house price in Katherine has fallen $30,000 in a month.
That's according to the NT Government's economic snapshot provided each month by the Department of Trade, Business and Innovation.
This week's update says the median house price in Katherine is today $320,000, a fall of $30,000 from where it was a month ago.
And about $80,000 away from where it was in 2016.
The value of property in Katherine is a hot topic at the moment with the arrival of valuation notices in Katherine letterboxes.
At least some of the new valuations show price falls of between 5-10 per cent, we believe.
A study of the department's economic snapshots show Katherine's median house price at the time of the last valuation, about October 2016, averaged almost $400,000.
The full extent of PFAS contamination of Katherine was made public the next month, in November 2016.
The Katherine Times has charted these prices above, as indicated on the departmental snapshot, although readers will notice the data from September 2019 is missing.
NT opposition leader Gary Higgins said the Territory continues to feel the impacts of a Government which he said had failed to deliver economic growth and prosperity.
Opposition Leader Gary Higgins said Monday's economy snapshot, released by the Department of Business, outlined some grim numbers.
He said concerning to the Opposition was the adverse effect the economy is having on house prices.
"The Katherine median house price has fallen another $30,000 in a month, from $350,000 in October 2019 to $320,000 in November 2019," Mr Higgins said.
"That is an extremely troubling drop and a tough call for Katherine residents.
"Darwin's median house price has fallen to $460,000 in November 2019, and the Palmerston median house price fell from $450,000 in October 2019 to $406,250 in November 2019."
The government today referred to "a number of gas projects on the horizon" to indicate an economic turnaround was not far away.
Chief Minister Michael Gunner said "The Government is now delivering on its promise to make the Territory a world class hub for gas production and manufacturing and services.
"Private sector investment creates strong economic growth and more local jobs - especially more permanent jobs. This is how we break out of the Territory's boom and bust cycle, and this is why the Territory Labor Government will support private enterprises wanting to do business here."
While you're with us, you can now receive updates straight to your inbox each Friday at 6am from the Katherine Times. To make sure you're up to date with all the news, sign up here.