Darwin's property market enjoying a healthy start to the year with this January being one of the most active in a decade, according to Glenn Grantham, General Manager of Raine & Horne Darwin.

Grantham's office sold 15 properties to 15 individual buyers in January. “The Darwin real estate market doesn’t tend to click into gear until after Australia Day, yet prior to the national holiday we’d sold 15 properties, making this one of the most active Januaries in about a decade," says Grantham. “The sales and rental markets are producing very healthy numbers for this time of year. We’ve already listed 20 new properties for sale and picked up 25 new property managements."

Grantham attributes this surge in the Darwin housing market to the start of the development phase at the Inpex Ichthys LNG project, which has brought new workers to town. “As part of this phase, the oil producer is employing specialist engineers and technicians to support its operations, and Darwin is getting its fair share of new recruits. We’ve seen plenty of Inpex workers at open homes seeking high-end tenancies priced between $700 and $1,200 a week, while those considering a property purchase are most active in the $500,000 to $700,000 price range.”

The Darwin market can change quickly. “The market prior to Christmas was a bit sluggish and many vendors shelved their selling plans in frustration," says Grantham. "The next phase of the Inpex project is a perfect example of how quickly the demand for real estate can surge in Darwin, creating improved market conditions for vendors to re-list their properties for sale.”