Darwin coast
Harry Down, Unsplash
  • Highest sale was 128 East Point Road, Fannie Bay
  • Lyons enjoys the highest median value at $720,580
  • Alawa saw a 24% change in its median value to $486 416
  • Moulden had the highest rental yield at 7.2%

Despite having previously been in the middle of a correction, Darwin has bounced back to have the highest level of capital growth in any capital city since the Covid-19 Pandemic began.

Darwin saw a 8.3 per cent change in dwelling value between March 2020 and December 2020, higher than Canberra, Adelaide and Hobart who saw 5.8, 5.2 and 4.6 per cent growth respectively.  This brings Darwin’s median dwelling value to $416,183, the lowest of all the capital cities.

However, Darwin’s dwelling values are still below the record high seen in 2014 by 27.4 per cent.

Darwin is still one of the most expensive capital cities for rentals with a median weekly rent of $450; only Canberra and Sydney are higher.

The inner suburb of Fannie Bay saw the highest sale by far in the Territory with 128 East Point Road selling for $3m in September 2020.   Fellow inner suburb, Larrakeyah , saw the next best-selling house at 98 Cullen Bay Crescent for $1.85m.

Lyons saw a 14.2 per cent increase in its median value – one of the largest increases in any Darwin suburb over the past year – taking its median value to $720,580, the highest in the territory.

The northern suburb of Alawa saw the greatest median increase with a 24 per cent change taking its median value to $486 416.

Moulden, the suburb with the lowest median value in Darwin, enjoyed the highest rental yield at 7.2 per cent.

First home buyers can receive up to $18,601 off stamp duty for homes valued at $650 000 or less as part of the Territory Home Owner Discount and additionally have access to the fedreral First Home Loan Deposit Scheme.

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