With property values starting to improve, astute empty nesters in Darwin are realising that now is the perfect time to downgrade from a spacious family home into a modern apartment.
With Darwin's median house price sitting at just under $600,000, first-home buyers might find some good buying opportunities in the Top End city.
Population growth has driven Darwin rental yields to 5.1 per cent, the highest in the country.
Desirable homes in Jingili, Karama and Anula are attracting 30-40 groups to open homes, with many selling within 3 weeks, says Glenn Grantham, general manager Raine & Horne Darwin.
“Once southern investors get wind that Darwin real estate is taking off again thanks to our investment yields above 4% and relative affordability, there’ll be no stopping this market,” says Glenn Grantham, of Raine & Horne Darwin.
CoreLogic data for November shows property prices rose in every city except Melbourne, as increased apartment supply begins to bite.
Sitting high above Bayview with harbour, marina and coastal views, this five bedroom home is for sale by David Oliver of Elders Real Estate, Darwin.
The Real Estate Institute of the Northern Territory held its Awards for Professional Excellence last week.
A height exemption makes this penthouse one of the highest land points in the Darwin CBD with views to the Arafura Sea and beyond.
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