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Darwin Real Estate Prices Up in September Quarter

In what will be great news for owners of Darwin real estate, the Real Estate Institute of Australia (REIA) released figures earlier this month for average house prices across the September quarter.

The figures come from the latest Bendigo Bank/REIA Real Estate Market Facts publication and highlight the growing property market around the country.

During the September quarter, the weighted average median price for capital city houses rose 3 per cent, and 2.2 per cent for other dwellings.

While Sydney retains the highest average at $722,718, the median house price for the eight capital cities now sits at $562,503.

Anyone looking to sell their Darwin property could stand to turn a profit on their home as the city saw an increase in prices. Although, some may think about turning their home into an investment property for rent, as Darwin was one of just four cities that saw rental prices increase over the September quarter for three bedroom houses.

Peter Bushby, president of the REIA, expects interest rates to remain fairly low, which will continue to bolster the property market, "provided there are no left field global issues that emerge", he said.

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