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Darwin Property Update

By Amy Trezise
As 2015 came to a close, the property market saw a wide range of results from around the country.  With capital growth declining in the NT by 3.7% we sit and wait to see what 2016 will bring.
According to Corelogic RP data the Darwin property market is still well and truly active with 103 (approx) new listings entering the market in the last 30 days and 1,460 (approx) total properties on the market.
The current median price for Darwin homes is currently sitting at $520,000 with the average days on market 115 and Sellers original listing price being reduced by 10.1% once a sale is achieved.
Unit median prices are currently $413,000 across Darwin with average days on market being 123 days and Sellers original sale price being reduced by 12.8% at the time of sale.
While we predict further slight decline in the market for the next 12 months, Darwin still remains strong with the highest mainland rental yield at 5.3%.
Click here to view the CoreLogic RP Data Property Market Indicator Report.
* Source Corelogic RP data
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