Potential and current owners of property in Darwin will be pleased with statistics recently released by RP Data.
The organisation's December 2013 Pain & Gain Report showed the number of houses across the combined capital cities selling for below the purchase price is continuing to decrease. The December 2013 quarter saw just 6.5 per cent of homes sold at a loss, which is down from 9.8 per cent at the same time the year before.
In Darwin, 92.3 per cent of homes were sold for a profit, with the profit margin averaging $187,000. This is good news for investors as capital gain on property purchases is increasing. It will also benefit residential property owners looking to sell.
Cameron Kusher, RP Data's senior research analyst, predicts that the number of houses selling at a loss will continue to reduce throughout the coming year.
It is expected that the historically low interest rate and the hike in home values across the state has assisted with driving down the percentage of houses selling at below original purchase prices.
Those considering purchasing real estate in Darwin for residential or investment purposes should be assured that they are making a beneficial investment.