Home RSS
Real Estate

Darwin is Australia’s ‘property powerhouse’

Homes Go Fast
Darwin is Australia’s ‘property powerhouse’ - Darwin - Australia - property buyer

While many overseas buyers are heading to Australia’s more popular state capitals – Perth, Sydney and Melbourne – it is a ‘crocodile infested backwater’ that is proving to be the nation’s most resilient property market.

Darwin recorded greater growth in median house prices in the three months to August 2012 than anywhere else in the country, according to RP data. Read on to find out more about the Northern Territories capital and why property there offers great potential.

Prices of Property In Darwin rise 4.4 per cent in the last year

The median house price in Darwin rose by 4.4 per cent in the quarter to August 2012 compared to growth of just 0.7 per cent in Sydney and a fall of 0.6 per cent in Melbourne.

RP Data research director Tim Lawless said: “Darwin over the past decade has absolutely phenomenally outperformed other capital cities. There's a very low population and unemployment, high population growth and quite a diverse economy.

“A lot of people think it’s a big mining town but it’s got quite a lot of exposure to government spending, along with natural gas, mining and military.''


Disclaimer: The information presented and opinions expressed herein are those of the authors and do not necessarily represent the views of Estates Report and/or its partners.