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Darwin One of Three Capital Cities to Record Housing Value Increase

Owners of real estate in Darwin will be comforted by the latest results from the February Home Value Index released by RP Data.

Although there were no recorded changes across the combined capital cities, Darwin was one of only three cities to see an increase in home values during February. This was after home values in the NT capital recorded a small rise of 0.7 per cent over the month.

The overall flat result over February is a turn around from earlier months, as the last year has been a strong period for national home value growth. In December, national values rose by 1.4 per cent and and an additional 1.2 per cent increase was seen in January. 

"The likelihood is that the weak reading for February is an adjustment from the strong readings in December and January rather than the beginning of a flat to negative growth phase across the macro level housing market," said RP Data Research Director and Analyst Tim Lawless.

Although national values did not continue their upward trend through February, buyer demand remained strong throughout the period, which was a record month for daily mortgage related activity. 

Owners of property in Darwin considering selling may be advised to do so soon, as current market conditions could lead to fantastic results.

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