‘They loved Darwin, saw the value in the market and confidently bid and invested’: Interstate couple buys CBD apartment days after seeing it in the NT News
Investors are swooping in on Darwin City, with an interstate couple buying a CBD apartment days after seeing the property in the NT News.
Northern Territory
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INVESTORS are swooping in on Darwin City, with an Adelaide couple buying a CBD apartment days after seeing the property in the NT News.
1206/31 Woods Street, Darwin City, on the 12th floor of the Oaks Darwin Elan, sold for $289,500 with Real Estate Central sales professional Chris Clarke.
Mr Clarke said the buyers, an Adelaide couple visiting Darwin, were enjoying a Saturday morning coffee in the CBD when they stumbled upon the apartment in the NT News’ real estate guide and went to the open inspection.
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The apartment attracted a mix of interest including owner-occupiers and local, interstate and expat investors.
It went to auction online with Openn Negotition, with eight bidders registered.
The couple dived in with a leading bid of $289,500, skyrocketing above the vendor’s June 2020 purchase price of $220,000.
“The online auction enabled (the couple) to be involved in the bidding of the property from the comfort of their living room back in Adelaide – as they flew out two days after inspecting the property,” Mr Clarke said.
“They now look to purchase another Darwin apartment in 2021 as a short stay investment and holiday home for themselves.
“They loved Darwin, saw the value in the market and confidently bid and invested.
“(We were) able to find a tenant for their investment property ready to take on a lease on the day of settlement – so another strong indicator that the market for the investment side of our market is showing some early signs of recovery.”
Mr Clarke said new investors were seeing the value in Darwin City units.
“Rental vacancies are at an all-time low and starting to drive an increase rental prices therefore providing stronger returns on investment than other capital cities across Australia,” he said.
“It also helps that we have some large scale projects in the wings in the NT, which is putting some-light at the end of the tunnel for our local economy and population increase.”
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He urged investors to explore the Darwin City market immediately.
“Now is the time to get a price update on where your property currently sits in the market. If you are a new investor to the territory or homeowner looking for a way in to the property market, get on the phone to a loan broker and see whether you are in a position to get out of the rental market and into your own home.”
Real Estate Institute of the Northern Territory chief executive Quentin Kilian said the investor market was strengthening, and that Darwin’s rental yield would be key to attracting investors.
“The rental yield sits above 5 per cent, which is the highest rental yield of any capital city in Australia,” he said.
“It’s the key element that makes it worth getting into a long-term investment.”
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