‘We’re definitely seeing a trend of buyers looking to purchase high end homes outside of our premium suburbs’: Buyers flashing cash in ‘alternative’ areas

Homebuyers are now taking their money to “alternative” areas in Darwin, with homes in two northern suburbs recently selling close to and above $1 million.

HOMEBUYERS are now taking their money to “alternative” areas in Darwin, with homes in Moil and Alawa recently selling close to and above $1 million.

Real Estate Central sales professional Stewie Martin sold 5 Pott St, Moil off market for $965,000, setting a new price record for the suburb.

The last highest sale in Moil was 8 Lanyon Tce in December 2015, also sold by Real Estate Central for $855,000.

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“The buyers are from interstate and have fallen in love with Darwin and its lifestyle,” Mr Martin said.

“They’ve opted to purchase a forever home rather than to rent long term – particularly given that the rental market has become so competitive over the past 12 months.”

Last weekend Mr Martin also sold an Alawa home at auction for a whopping $1.03 million.

The home, which the new owners have requested the address not be published, attracted 12 registered bidders.

This home in Alawa sold for $1.03 million at auction with Real Estate Central. Picture: Real Estate Central

“Essentially it was a two- horse race between two bidders who were interstate, and had buyers phone bidding on their behalf,” Mr Martin said.

The home sold to a woman who had also fallen in love with the Darwin lifestyle.

Mr Martin said these sales showed buyers were turning to suburbs outside the conventional coastal areas.

“We’re definitely seeing a trend of buyers looking to purchase high end homes outside of our premium suburbs like Fannie Bay, Nightcliff, Rapid Creek and Larrakeyah,” he said.

Stewie Martin's recent Moil sale broke a price record. Picture Katrina Bridgeford.

“Buyers are seeing value in securing quality dwellings in suburbs like Alawa, Jingili, Moil and Millner without the hefty price tags that can be associated with our blue chip suburbs.

“Savvy buyers are definitely seeing a great opportunity to secure quality homes in these alternative areas.”

Real Estate Institute of the Northern Territory chief executive Quentin Kilian said data from the March quarter showed sales were excellent across all areas of the Top End, with sales increasing substantially in Palmerston.

“I suspect reality is going to come down to where the stock is available and what kind of stock is available,” he said.