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Darwin Market Records Strong Growth

Sales volumes and median prices on the rise in the N.T

By Terry Christodoulou
Thu, Feb 18, 2021 12:35amGrey Clock < 1 min
The December quarter saw the Darwin property market enjoy a spike in sales volumes, up more than 20 per cent alongside rising median property prices.
A new report from the Real Estate Institute of the Northern Territory (REINT) detailed the state capital’s strong end to 2020, with ascendent median house and unit prices. 
According to the REINT’s ‘Real Estate Local Market (REALM) Report’, the median price of units outpaced that of housing, up 6.7 per cent against the 4.2 per cent rise in the median price of detached dwellings.  
Growth covered wider Darwin except for the north east. The current median house price in the city is now $500,000, with units at $320,000.
Elsewhere, Katherine saw a surging 73.7 per cent rise in sales volume, with Tennant Creek up 50 per cent and Alice Springs continuing its move along a robust growth corridor, up 36 per cent.

“While it is far from the peaks of 2014, this has been the most positive year in over half a decade and bodes well for continued growth into 2021,” said REINT chief executive Quentin Kilian.

Median rents also increased in the Greater Darwin Area by 6.9 per cent (houses) and 6.6 per cent (units), with rental yields strong for the investor set – house yields rising to 5.3 per cent and unit yields steady at 5.9 per cent.



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Scheduled auctions fall to winter levels as vendors hold back on going to market

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Fri, Sep 29, 2023 < 1 min

Grand final fever and the long weekend have dampened scheduled auction activity this weekend, CoreLogic reports.

The number of homes scheduled for auction this weekend is set to halve, with 1,324 properties listed, marking the quietest week since mid June. Melbourne will experience the quietest week since Easter, CoreLogic data shows, with 223 homes prepared to go under the hammer. In Sydney, 805 properties are expected to go to market, the lowest number in seven weeks.

With long weekends in Queensland and South Australia, numbers are also down in Brisbane (111) and Adelaide (86), less than half the properties available for auction the previous week. It’s a less dramatic drop in Canberra, where 83 homes are scheduled for auction, down -22.4 percent on the previous week. 

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