Values for property in Darwin have increased by 4.6 per cent year-on-year, according to new figures released by RP Data, spelling encouraging news for home owners who wish to sell in coming months.
However, over the month of January 2014, the RP Data-Rismark Home Value Index recorded a slight dip in home values at 1.1 per cent. The median dwelling price currently stands at $530,000 with gross returns of 11.2 per cent.
Despite the small fall in home values over the month of January, Darwin still possesses the strongest gross rental yields in the country. Houses in Darwin currently boast a yield of 6.2 per cent, while units hold 6 per cent.
This is significantly higher than the aggregate across the eight capital cities, which is 3.9 per cent for houses and 4.7 per cent for units, showing the strength of the rental market in the city of Darwin.
Furthermore, the Darwin market is set to see more positive results throughout 2014, according to research from Australian Property Monitors. House prices will rise between 5 per cent and 7 per cent this year, which may indicate a great time to sell property.