‘New Territorians’ swooping in on Top End property deals, as Darwin home sells in just 45 minutes at first open inspection

A DARWIN home has sold in just 45 minutes at its first open inspection, to a buyer who paid in cash and above the asking price.

A MILLNER home has sold in just 45 minutes to a Victorian buyer, who paid in cash and above asking price.

38 Sabine Road, Millner was sold during the first open inspection by Raine & Horne general manager Glenn Grantham.

Twenty-five groups, or about 50 people, inspected the house but Mr Grantham said 10 minutes before the inspection, about five groups were already waiting and itching to get in.

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The four-bedroom, two bathroom home on 1240sq m was sold within the hour to a Victorian woman who’d just moved to the Territory.

“She made an offer about 30 minutes in, which was cash and $2000 above asking price,” he said.

“I straight away presented it to the owners and they were very happy, and the purchaser was happy.

“It was a fast deal, less than 21 days from contract to settlement.”

38 Sabine Rd, Millner sold in just 45 minutes. Picture: Raine & Horne Darwin

Mr Grantham said there were still many keen buyers in the market, evident by the disappointment two prospective buyers felt after the sale of 38 Sabine Road.

“They were disappointed and surprised,” he said.

“They thought they had a bit more time … given the market over the last few years. It’s been a case of act fast or miss out. I guarantee if you’re looking at a property and think it’s great, someone else thinks it is too.”

38 Sabine Rd, Millner sold in just 45 minutes. Picture: Raine & Horne Darwin

Mr Grantham said the buyer was one of many “new Territorians” swiftly sinking their teeth into Top End properties.

“She’d made a decision to come to the Northern Territory prior to COVID-19 and had started to make the move, selling up and getting ready,” he said.

“She has a daughter and grandchild up here, and was keen to make a tropical sea-change. Then with COVID it frustrated her efforts to get up here but in a way COVID encouraged her.”

Mr Grantham described Darwin’s current residential market as “supercharged”.

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He said a Gunn property that he’d recently posted on realestate.com.au had attracted about 10 inquiries within the first two hours of being listed.

“All of these inquiries were local but 80 per cent of them had just shifted to be here,” he said.

“It’s a different market, it’s a supercharged market now.

“At the start of the year it was progressing upwards. It had just kicked off in first gear and now it’s in sixth gear and the superchargers have hit.”