Darwin still the "safest" place

By Gerv Tacadena | 18 Sep 2020

Darwin remains the safest capital city in Australia, as it continues to experience minimal impacts from the COVID-19 outbreak. However, will this signal a rosy spring selling season for the Northern Territory capital?

The spring market is usually "not noticeable" in the Northern Territory as it is in eastern and southern states, said Jeremy Callan, a property valuer at HTW.

"Peak seasons, particularly in Darwin, are in the winter months with transactions occurring steadily throughout the year," he said.

Still, Darwin's housing market has been showing steady growth this year. Callan said many regions in the territory recorded strong gains in sales activity during the second quarter.

For instance, the North Coastal Region registered a 26% increase in sales over the June quarter. The region also posted an 11.7% growth in dwelling values over the quarter.

"While we are not yet seeing dramatic rises across the market at this stage, typically speaking the first signs of a recovery are the rise in transaction numbers. COVID-19 appears to have had little effect on the Darwin market and the days on market are dropping dramatically," Callan said.

Listings are also down in the North Coastal Region, which, Callan believes, could potentially help maintain the prices.

"Buyer enquiry remains steady with some urgency now creeping back into buyers’ minds," he said.

The unit market in Northern Territory, however, continues to be stuck in the doldrums, at least price-wise. Darwin's Inner Region reported a decline in values during the second quarter of the year despite the slight increase in sales volume.

Callan said while it is difficult to ascertain what will happen in the short  to medium term, the recent market performance of the housing market could provide some sense of optimism.

"For the remainder of 2020, bar any major outbreak, major policy or government reform, the market will continue to operate much the same with some renewed buyer confidence and with any luck, some signs of capital growth on the horizon," he said.

Top Suburbs : flemington , gladesville , queens park , geelong west , murdoch


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