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top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

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1/10
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top suburbs

12 month growth
Manyana
70.61%
Tamarama
70.55%
Box Hill
64.95%
Goodwood
64.38%
Bawley Point
63.64%
Lennox Head
62.11%
Casuarina
62.08%
Queenstown
61.31%
Warana
60%
Cooroibah
59.43%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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Darwin houses most expensive

By Staff Reporter
18 August 2009 | 1 minute read

Darwin has pipped Sydney to become the most expensive place in Australia to buy a home, with an average price climbing to $549,000, according to the Australian Bureau of Statistics.

Driving the price increase has been the city’s close proximity to the liquefied natural gas resource industry.

Australian Property Monitors chief economist Matthew Bell said there are a number of workers migrating from Western Australia and South Australia to Darwin where employment growth is still strong.

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“On our numbers we have got house prices and unit prices at close to 20 per cent growth for the year,” he said.

There is mounting concern however, that this rate of growth is unsustainable.

“The market in Darwin has been growing fairly consistently since 2001,” RP Data national research director Tim Lawless said.

“When we’re talking about paying around $500,000 for a house you start to get affordability constraints entering the market,” he said.

According to Mr Lawless, the capital growth has been matched by competitive yields of about 6 per cent.

“Rental rates have gone up by 20 per cent in the last year alone. I don’t think prices are going to go backwards at all, the economy’s too strong for that, but I really don’t think it can sustain a rate of 16 per cent growth per annum,” he said.

Darwin houses most expensive
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top 10 agents

Alexander Phillips

Top 1

Year of Experience: 21

Support Staff: 3

Residential Property Listings Secured: 241

Total Value of Residential Properties Sold: $ 706,737,500

VIEW COMPLETE REPORT
1/10
Do you have an industry update?

top suburbs

12 month growth
Manyana
70.61%
Tamarama
70.55%
Box Hill
64.95%
Goodwood
64.38%
Bawley Point
63.64%
Lennox Head
62.11%
Casuarina
62.08%
Queenstown
61.31%
Warana
60%
Cooroibah
59.43%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.