{"id":28946,"date":"2020-11-10T16:41:03","date_gmt":"2020-11-10T03:41:03","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=28946"},"modified":"2020-11-10T16:41:03","modified_gmt":"2020-11-10T03:41:03","slug":"from-the-worst-market-to-one-of-the-best-why-house-prices-in-darwin-have-skyrocketed","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/from-the-worst-market-to-one-of-the-best-why-house-prices-in-darwin-have-skyrocketed\/","title":{"rendered":"From the worst market to one of the best: Why house prices in Darwin have skyrocketed"},"content":{"rendered":"

PHOTO: House prices in Darwin have seen exceptional growth in the September quarter.<\/strong><\/p>\n

Darwin\u2019s housing market has seen massive gains in the past year, as the Northern Territory capital\u2019s economy has bounced back quickly after COVID-19-related lockdowns, with experts predicting prices will continue to rise.<\/p>\n

September saw house prices rise by 6.6 per cent for the quarter to $539,463, according to Domain data. Only Hobart saw greater gains for the quarter (6.9 per cent).<\/p>\n

For the year, Darwin house prices were up 7.2 per cent, a higher annual gain than Sydney, Melbourne and Brisbane saw in the year to September.<\/p>\n

\u201cDarwin\u2019s gone from the worst market in Australia to one of the best,\u201d\u00a0Real Estate Central NT\u00a0director\u00a0Daniel Harris\u00a0said.<\/p>\n

He said the city had seen an influx in demand for houses since late last year, which picked up after COVID-19-related restrictions ended there in May as other states, particularly in the south east, were slower to re-open or, in the case of Victoria, had second lockdowns.<\/p>\n

Much of the demand was in the $650,000 and below sector of the market, which attracted government incentives, Mr Harris said.<\/p>\n

The Territory Home Owner Discount allows home buyers who have not had a property in the NT for the previous two years to save up to $18,601 in stamp duty for homes under $650,000.<\/p>\n

First-home buyers are also eligible for grants between $2000 and $10,000 for expenses including household goods and renovations, and all eligible people building in the state can take advantage of the Build Bonus Grant of $20,000.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
HOUSES<\/td>\n<\/tr>\n
Capital City<\/td>\nSep-20<\/td>\nJun-20<\/td>\nSep-19<\/td>\nQoQ<\/td>\nYoY<\/td>\n<\/tr>\n
Sydney<\/td>\n$1,154,406<\/td>\n$1,141,097<\/td>\n$1,080,996<\/td>\n1.2%<\/td>\n6.8%<\/td>\n<\/tr>\n
Melbourne<\/td>\n$875,980<\/td>\n$876,097<\/td>\n$862,063<\/td>\n0.0%<\/td>\n1.6%<\/td>\n<\/tr>\n
Brisbane<\/td>\n$596,316<\/td>\n$594,173<\/td>\n$574,838<\/td>\n0.4%<\/td>\n3.7%<\/td>\n<\/tr>\n
Adelaide<\/td>\n$564,927<\/td>\n$549,574<\/td>\n$529,164<\/td>\n2.8%<\/td>\n6.8%<\/td>\n<\/tr>\n
Canberra<\/td>\n$817,810<\/td>\n$789,905<\/td>\n$745,004<\/td>\n3.5%<\/td>\n9.8%<\/td>\n<\/tr>\n
Perth<\/td>\n$534,336<\/td>\n$531,557<\/td>\n$521,911<\/td>\n0.5%<\/td>\n2.4%<\/td>\n<\/tr>\n
Hobart<\/td>\n$555,754<\/td>\n$519,705<\/td>\n$480,429<\/td>\n6.9%<\/td>\n15.7%<\/td>\n<\/tr>\n
Darwin<\/td>\n$539,463<\/td>\n$505,896<\/td>\n$503,214<\/td>\n6.6%<\/td>\n7.2%<\/td>\n<\/tr>\n
National<\/td>\n$811,966<\/td>\n$804,545<\/td>\n$776,144<\/td>\n0.9%<\/td>\n4.6%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Source: Domain<\/em><\/strong><\/p>\n

READ MORE VIA DOMAIN<\/a><\/p>\n

MOST POPULAR<\/span><\/h3>\n