Owning an investment property in Darwin is looking to be a lucrative option for home buyers, as new data has found median house rents have risen significantly.
New information from Australian Property Monitors (APM) in its December Quarter 2013 Rental Report showed median rents for houses in Darwin have increased by 7.7 per cent year-on-year.
At the end of December 2013, the report stated median weekly house rents in Darwin reached $700, up by $20 from the September quarter. This activity has now made Darwin one of the most expensive markets to rent, providing lucrative gains for property investors in the area.
Furthermore, Darwin houses also boast the second highest gross rental yield the country at 5.12 per cent. Currently, Darwin is only second to Brisbane, which possesses a rental yield of 5.17 per cent for houses.
"Australia's capital city housing markets again reported mixed results over the December quarter," said APM Senior Economist Andrew Wilson in the report.
"Overall, national median weekly asking rents for houses increased by +0.9 per cent with unit rents down by -0.4 per cent."
Whether you're looking to build wealth for retirement or secure a secondary source of income, houses or apartments in Darwin could make a great investment choice.