REA data reveals more South Australians eyeing NT properties than Territorians

New data has revealed there are more southerners from one state eyeing NT properties online than there are Territorians.

SOUTHERNERS are snooping at Northern Territory properties online significantly more than locals are, according to exclusive data from realestate.com.au.

The audience data from the 2021 financial year showed more than 80 per cent of search activity for properties in the Northern Territory was from interstate buyers.

South Australians made up 53 per cent of the search activity, more than three times the number of Territorians looking to buy a property locally. Realestate.com.au senior economist Eleanor Creagh said the data showed just 14 per cent of searchers were from the NT and a further 33 per cent from other states and territories.

“The Northern Territory is the most renter-centric state or territory in the country,” she said. “The transient nature of the NT population means there is a high proportion of renters and rental properties.

“Strong rental yields and affordability make the NT market attractive to interstate investors.”

Raine & Horne Darwin general manager Glenn Grantham said the agency had experienced a significant uptick of interstate inquiries, with two types of southerners interested in the NT’s property market.

“There are people moving here for employment who are coming out of the affluent states,” he said. “They’re looking to purchase family homes in the northern suburbs at the higher end of the market.

“The second speed of inquiry is investors. They’re looking at the lower end of the market and based on yield. You can get 6 or 7 per cent yields, which you can’t get down south.”

Real Estate Institute of the Northern Territory chief executive Quentin Kilian added that as a result of the Covid-19 pandemic, there was a nationwide trend of people migrating from large cities to regional areas such as Darwin.

“People are realising with technology now that they don’t have to live and work in the city,” he said.

“They can achieve the same results from a regional base.

“South Australians have woken up to the fact Darwin is a city with life and excitement and fun … we’re also finding the bulk of people are tending to come out of Victoria at the moment.”