“Hit a excessive”: The Darwin progress stars of 2022 revealed

Information Corp Australia

First printed 20 Jan 2023, 4:00pm

Information Corp Australia Community

3/78 Esplanade, Darwin Metropolis, bought at public sale for $2.06 million

The Darwin property market completed off 2022 with home values up 7.5 per cent for the 12 months.

In accordance with the most recent REA knowledge, the median home worth within the Darwin area was $645,000.

That’s up 29 per cent from three years in the past however the identical as three months in the past.

The info confirmed Berrimah was the highest performer the place the common home worth practically doubled within the 12 months to December to sit down at $800,000.

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14 Reuben Avenue, Northcrest, Berrimah, just lately bought for $860,000

Native agent Susie Patton-Quinn of Actual Property Central stated whereas the information that positioned Berrimah on the high was correct, it was considerably skewed.

“The brand new Northcrest subdivision in Berrimah and new home gross sales could be the rationale behind that (leap in median home worth),” she stated.

Coming in second was Humpty Doo, the place the median home worth rose 81.1 per cent to $575,000, adopted by Berry Springs, up 45.8 per cent to $615,000.

160 Mulgara Street, Berry Springs, bought for $950,000 in October

Rounding out the highest 5 had been Virgina, up 39.3 per cent to $780,000 and Nightcliff, up 26.6 per cent to $1 million.

Ms Patton-Quinn stated the Darwin market hit a excessive within the 2021/2022 monetary 12 months with robust curiosity in rural blocks and the northern suburbs driving up costs.

“Individuals needed to get in and folks needed to promote as a result of the market was that good,” she stated.

“I used to be getting lots of inquiries from interstate consumers, individuals from Queensland and Victoria transferring up this fashion, wanting the bigger rural blocks.

“I bought 56 Saxby Rd, Virginia (for $840,000) in a really quick time on market, about two to 3 weeks.

“And I’m nonetheless getting fairly a number of cellphone calls from interstate individuals desirous to relocate to Darwin they usually need that rural house.”

76 Morgan Street, Virginia, bought for $1.2m in November

Ms Patton-Quinn stated Nightcliff attracted consumers wanting the prime location and large suburban blocks.

“It has such an excellent neighborhood really feel, the foreshore and the approach to life – fairly a number of individuals had been drawn to it,” she stated.

Ms Patton-Quinn stated the Darwin property market slowed in the direction of the top of 2022 however curiosity remained.

“Good inventory within the northern suburbs and rural space will nonetheless transfer alongside fairly nicely,” she stated.

“For many who have gotten the cash, there’s nonetheless good shopping for.”