House sales surge by 10.9 per cent across greater Darwin during June quarter

HOUSE sales across greater Darwin have increased a whopping 10.9 per cent following some of the most active months in real estate in recent history.

House sales across greater Darwin have grown 10.9 per cent following some of the most active months in real estate in recent history. Picture: iStock

HOUSE sales across greater Darwin have grown 10.9 per cent following some of the most active months in real estate in recent history.

The Real Estate Institute of the Northern Territory’s Real Estate Local Market Report for the June quarter shows 204 houses were sold between April and May.

REINT chief executive Quentin Kilian said Darwin’s northern suburbs were particularly popular with buyers.

“The bulk of this was in the Darwin north coastal area, with a 25.9 per cent increase and takes in suburbs such as Alawa, Coconut Grove, Milner, Nightcliff and Wanguri,” he said.

“Palmerston also fared well with an 11.3 per cent increase in sales volumes.”

The median house price increased by 1.6 per cent across greater Darwin to $477,500.

“However, the increases were much stronger in some areas, with inner Darwin seeing a strong lift of 7.8 per cent in median price and Palmerston seeing its median go up 4 per cent,” Mr Kilian said.

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Median house prices in the rural area were strong, with a 16.3 per cent increase to $349,000 in Katherine and a 59 per cent increase to $310,000 in Tennant Creek.

Sales volumes were up 80 per cent in Katherine and 25 per cent in Tennant Creek.

“While the Alice Springs volumes were down, the median price held up very well with an increase of 3.2 per cent to $471,500,” Mr Kilian said.

For units and townhouses, however, sales volumes fell by 11.6 per cent and the median price by 7.5 per cent.

Mr Kilian said all was not lost on the unit and townhouse market.

“Inner Darwin and Palmerston bucked the negative sales trend for the quarter with inner Darwin unit sales up by 6.9 per cent and Palmerston unit sales rose a very healthy 27.8 per cent,” he said.

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Alice Springs had a strong growth in sales that were up 11.1 per cent and in the median price, which increased by 3.2 per cent to $337,500.

vacancy rates across the Territory fell to 3.6 per cent in greater Darwin, to 2.9 per cent in Palmerston and to 4.3 per cent in Alice Springs.

“Following on from the lead in the January quarter, the Territory continues to have a very active rental market,” Mr Kilian said.

“A trend that appears to be continuing into the September quarter.”

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