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The Darwin property market continues to rebound, driven by improving enquiry for properties in the city’s desirable northern suburbs, according to one leading property group.
Raine & Horne Darwin general manager Glenn Grantham said that activity levels are on the increase.
“Quality, well-located and well-presented properties in northern suburbs such as Nightcliff, Leanyer and Tiwi are achieving strong enquiry with as many as 12 groups attending Saturday open for inspections.
“The properties attracting the most attention have very few obstacles for buyers, many of whom are upgraders with growing families.
“In the northern suburbs, we’re almost back to the good old days of four years ago, with quality, desirable properties once again attracting six to 12 groups to home opens.”
Earlier in the year, Shane Kempton, chief operations officer at Professionals Real Estate Group, said that market indicators were pointing towards a revival in Darwin and Perth.
According to Mr Kempton, sale volume trends are a good market indicator and the upward trends for both cities were positive signs.
“Professionals are predicting that this upward trend in property sales in both Perth and Darwin will continue because of pent-up demand for property in these two capital cities,” the CEO said.
The Perth and Darwin marketplaces have undergone a market correction over the past two, three years, according to Mr Kempton.
“Many buyers in these two capital cities have been sitting on the sidelines waiting for the market to bottom and many understand that now is the time to buy,” Mr Kempton said.
Mr Kempton also said that the lack of new homes being built will also have a flow-on effect as the supply tightens, leading to increased rents.
“These higher rents will also encourage more people who are currently renting in these two cities to consider buying a home, especially with interest rates now at record lows.”
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