The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $445,000.
Investors saw the median home price rise to $445,000.
The downward trend in home prices in DARWIN CITY, 800 averaged -3.21% per annum over a 3-year period.
DARWIN CITY now ranks at the 12th place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in DARWIN CITY are low, as opposed to average gains per annum over the past five years.
Real estate investors could earn a rental income of $470 based on current median home prices for the suburb.
It is expected for properties to spend some time on the market prior to a successful sale. In DARWIN CITY, homes and units usually stay on listing for an average of 117.5 days.
88 properties were sold in DARWIN CITY in 2016, making it the 1st most active market in NT based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||N/A||-6.81%|
|Median 3 years||N/A||-9.64%|
|Median 5 years||N/A||-4.3%|
|10 years average annual||N/A||5.47%|
|Weekly media advert. rent||N/A||$470|
|Time on Market||N/A||117.5 days|
|Gross Rental Yield Percent||N/A||5.49%|