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top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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Landlords blamed for Darwin rental crisis

By Staff Reporter
15 January 2010 | 1 minute read

Landlords refusing to reduce the rents on luxury apartments in Darwin are contributing to the city’s rental crisis.

According to real estate agent Diane Davis, the skyrocketing rents in Darwin are partly due to an excess of vacant, luxury units in the city centre.

"In the Northern suburbs we have houses to rent and they will move quickly… It is the top of the market that we are having trouble with," Ms Davis told ABC News.

Ms Davis said some landlords refused to budge on asking prices because they are burdened by the need to cover their mortgage repayments.

Darwin currently has the highest median rental price for houses and units in Australia.

Figures from RP Data show the median rental price for both units and houses in Darwin is $500 a week.

Landlords blamed for Darwin rental crisis
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Listen to other installment of the Real Estate Business Podcast
Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
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.