NT Excerpt from the 2020 September Market report

23 Sep 2020

Property sentiment in Darwin is strong, with many agents reporting increasing numbers of potential purchasers, said Will Johnson, Northern Territory local expert at HTW.

"The volume of sales appears to be increasing, although pricing remains static. This can be attributed to several factors, one being Darwin is considered quite close if not at the bottom of the property price cycle," he said.

While the medium- to long-term impacts of the robust market activity on capital growth remain to be seen, Johnson said Darwin is expecting to finish the year strong.

Darwin and the whole Northern Territory have been less affected by the COVID-19 outbreak compared to other southern states, Johnson said. Still, the state's local economy has suffered considerably due to the slowdown in the tourism sector.

Despite the uncertainty, Darwin remains a top spot, especially for local investors due to its strong rental returns.

"Looking to the short and medium term, Darwin still provides opportunities for investors to put their money in property. Whilst capital growth may be some time in the future, recent signs of strong purchasing activity are positive signs," Johnson said.

Area

Property Type

State

Median Price

Quarterly Growth

12 month Growth

Weekly Median Advertised Rent

Gross Rental Yield

Metro

Houses

NT

$480,000

-0.8%

-5.1%

$450

5.0%

Metro

Units

NT

$268,500

-3.3%

-9.4%

$350

6.3%

Country

Houses

NT

$395,000

-0.4%

-2.7%

$480

6.1%

Country

Units

NT

$323,500

0.3%

-4.4%

$364

6.3%

Source: CoreLogic, August 2020

Top Suburbs : marrickville , redcliffe , ropes crossing , alexandria , belmont

SHARE

Get help with your investment property


Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local mortgage broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus an appointment is free.

 
How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here