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Darwin Property Update

By Amy Trezise

It appears that our prediction of a further slight decline for 2016 may not be correct.

According to Corelogic RP Data figures the Darwin Property Market has seen an increase in activity.

The Median days on market for houses has decreased from 123 in December 2015 to 121 with Sellers original sale price reduced to -9.7% compared to the December figure of 10.1%.

Median house prices remain unchanged but the unit median price has jumped from $413,000 to $507,000 in a matter of 6 weeks.  This to us indicates units of a higher price are at the top of Buyers lists and/or recently developed off the plan units have reached settlement.

Darwin still holds the highest rental yield in Australia at 5.3%.

Whilst these movements are small we can only hope it is a sign of better things to come for NT property owners.

Click here to view the Corelogic RP Data Housing Market and Economic Update.

*source Corelogic RP data

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