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Property in Darwin ‘Showing Strength’

Property in Darwin is experiencing a resurgence, new statistics have found, with the city showing significant growth over the last year.

The RP Data-Rismark March Hedonic Home Value Index revealed a 2.4 per cent jump in Darwin dwelling prices during the month, which matches its performance over the quarter.

Year on year, the city saw values leap by 7.3 per cent, resulting in total gross returns of 13.9 per cent.

RP Data research director Tim Lawless said real estate in Darwin recorded one of the "most significant" improvements, along with Perth, which saw values rise by 9.4 per cent since November 2011.

"Both these cities are recording rental growth higher than ten per cent year on year which is providing a significantly higher total return compared with other cities," he explained.

The report showed the median price for a property in Darwin was $516,713, which was over $50,000 higher than the combined aggregated average of Australia's eight capital cities.

Nationally, home values jumped 2.8 per cent over the March quarter, with Mr Lawless noting that the market has advanced 4.7 per cent since tumbling 7.4 per cent from the market peak at the end of 2010.

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