With 2015 well and truly gone the Darwin rental market still remains strong with the highest Australian mainland rental yield of 5.3%.
While the NT saw a drop in house rentals by 4% in the past 12 months, units were most effected with a decline of 10.3%. Although this seems dramatic, rental prices are still up on average of 2.3 % over the last 5 years.
The overall Darwin vacancy rate has risen a further 1.5% in the quarter October to December 2015 and currently sits at 8.9%. Palmerston’s vacancy rates held stronger than Darwin with a decline in the rate by 0.7% dropping from 6.6% for the June to September 2015 quarter to 5.9% for October to December 2015.
Here at Ray White Darwin we pride ourselves in customer service and the results show as below;
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* Source Corelogic RP data & REINT
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