Real estate continues to shine with major sales

Darwin’s real estate market continues to increase by leaps and bounds.

DARWIN’S real estate market continues to increase by leaps and bounds, with recent sales suggesting buyers are turning their eyes to alternative suburbs, and are willing to splash some cash for a home.

Nightcliff, Rapid Creek, Fannie Bay and Larrakeyah continue to grow and will likely remain as Darwin’s most sought-after suburbs but activity in the last few weeks shows buyers see the value in less traditional areas.

Sales by Real Estate Central’s Stewie Martin for close to and over $1 million in Moil and Alawa respectively are indicators of this.

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Both were bought by interstate buyers who fell in love with Darwin’s lifestyle and saw the value in these homes.

The reality is, interstate buyers are perplexed at how different the market and Darwin’s environment is compared to places like Sydney and Melbourne.

In Darwin, no matter where you are, you’re 20 minutes or less drive away from the beach.

In Sydney and Melbourne, entry- level homes are becoming increasingly out of reach financially, whereas in Darwin first home buyers are taking advantage of every opportunity through grants and affordable prices.

The last five years have been especially tough for Darwin’s real estate market, and it was a welcome sign when activity began to pick up in 2020. This is a promising sign the market is continuing to prosper.