Location, land and amenities driver of popularity

A RECENT report said one of the only positives about Darwin’s real estate market was the increase in land prices at a growing development. The suburb’s land manager the development’s popularity was skyrocketing.

Jarrett Sherman, Shay Robinson and their daughter Kyla Sherman are one of many families who’ve bought in Zuccoli. Picture: Justin Kennedy

LAND prices in one of Darwin’s biggest residential developments are on the rise, according to a recent report.

Herron Todd White’s residential June report showed land prices in Zuccoli, specifically the Aspire development, had increased.

“This increase came as a surprise to us but it is showing that the supply of land is not meeting demand,” it said.

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The report cited it was evidence the Northern Territory Government’s housing incentives, such as the BuildBonus, were working to increase activity in the construction industry. Zuccoli land sales manager Adam McCann said Zuccoli’s prime land, which is the suburb’s waterfront blocks and properties opposite Zuccoli Primary School, rose about $13,000.

He said the prices helped increase the affordability of regular blocks.

“By having some prime blocks it enables us to bring the price down on normal blocks,” he said.

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He agreed the government incentives helped but said Zuccoli’s affordability and location were the main drivers for buyer activity.

“We’re five minutes from Palmerston CBD, the hospital, schools, we’re looking at a real community feel for the place,” he said.