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After two challenging years for the real estate market in Darwin, the number of buyers has increased dramatically, according to a leading real estate group.
Raine & Horne says it saw an average of 4.5 groups at every open home in Darwin in January, up from an average of just 1.5 groups over the last two years.
This increased turnout is converting into increased sales, Raine & Horne Darwin general manager Glenn Grantham said.
Mr Grantham said that while investors in Darwin have typically come from the southern states, the new activity is being driven by Territorians.
“It’s a mix of local investors and owner-occupiers who are snapping up Darwin real estate,” he said.
“We are yet to see much interest from down south.”
Mr Grantham said investors should consider Darwin due to its good value, yield and longer-term growth.
“We still have a short window where owners have realistic price ambitions and only the savvy buyers have identified that the Darwin market is starting to rebound,” he said.
“Once the southern investors enter the market, we’ll see prices start an upward spiral.”
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