Australian Property Monitors (APM) has made its predictions about what 2014 will hold for property in Darwin in its annual housing market report.
The outlook is good for anyone considering selling their real estate in Darwin, as APM has predicted house prices in the city will increase by around 5 – 7 per cent during 2014.
This builds on the strong growth the city saw in 2013 when house prices rose by 7 per cent over the second half of the year.
APM attribute this increase to the continued strength of the local economy and said this will remain a key factor encouraging demand to increase in 2014.
The unemployment rate remains low and with plenty of job opportunities for interstate workers thanks to the booming resources sector, there is no shortage of buyers.
If you are considering selling your property in Darwin, you might be pleased to know that the median house prices in 2013 were up 6 per cent from the last pricing peak in March 2011.
Nationally, the outlook is also good for sellers across the board, which could be a result of falling interest rates, which have stimulated growth by increasing affordability.
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