Darwin property outperforms other capitals

The latest home value survey shows Darwin outperforming all other capital cities over the past year.

The RP Data-Rismark index shows a median dwelling price of $495,000.

That equates to a rise of just over 1 per cent for the month of November.

But the figures show a 13 per cent year-on-year increase in Darwin and a total gross return of 20 per cent.

The next highest capital city, Perth, increased by 3.4 per cent and 8 per cent for the same two measurements.

The head of the Real Estate Institute of the Northern Territory says the strong Darwin property market is being driven by rapid economic growth.

Quentin Killian says many people are moving to Darwin to capitalise on job opportunities.

"An influx of population that we haven't seen for quite some time," he said.

"And that demand, and in particular, if you shape it around some of the projects that are coming to town, the consultants that have to come with these projects, the executives, the workers, all of this is putting an increased demand on everything."

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    0.9329-0.0003-0.03%
    AUDUSD=X
    0.5557+0.0002+0.04%
    AUDGBP=X
    0.6754-0.0001-0.02%
    AUDEUR=X
  • Commodities
    Commodities
    NamePriceChange% Chg