Cashed up investors from Sydney and Melbourne have refocused their attention on buying quality, well-located real estate in Darwin’s inner and northern suburbs that offer the holy grail of strong yields and capital growth. 

 According to data from leading local real estate firm Raine & Horne Darwin, interstate-based buyers represent around 65% of Darwin’s investor inquiries. 

 Mr Glenn Grantham, General Manager, Raine & Horne Darwin, said NT capital’s investment property markets were rapidly changing as investors shifted focus away from entry-level markets. 

 “The face of property investment in NT is changing with more investors focussing on upgrader markets that have traditionally attracted owner-occupiers such as Alawa, Jingili, Moil and other suburbs north of the city,” said  

 “In the past, savvy investors secured entry-level properties in markets such as Palmerston and outer Darwin fringe suburbs where the yields were a major appeal.

 “Now investors are focussing on higher-priced housing that is very close to the CBD that can still achieve yields between 6- 7% and is not affected by body corporate fees.”

 To illustrate, Raine & Horne Darwin has listed 14 Britomart Gardens Alawa[i], a four-bedroom, three-bathroom family home with a granny flat, for offers over $730,000. 

 “This property is in a sought-after suburb and is valued above the Darwin median house price of approximately $495,000,” said Mr Grantham.

 “Being close to the Charles Darwin University, the hospital and airport this property will attract high-quality tenants. It will rent for $860 a week and a gross yield above 6% that is impossible to find in inner-ring suburbs in Brisbane, Canberra, Melbourne, or Sydney.

“Not only can an investor achieve an unbelievable yield, but by buying a well-located, quality property within minutes of the city, the prospect of excellent capital growth is almost guaranteed.”

 Mr Grantham continued, “The sale of 14 Britomart Gardens is illustrative of the changing face of inner Darwin real estate sales. Properties that previously attracted only owner-occupier attention are now on the radar of investors.

 “This additional buyer competition is great news for vendors within Darwin’s inner-ring suburbs considering a sale in 2022.”

 For all your real estate sales and property management needs in Darwin, and Palmerston or to find out about the auction process, contact Raine & Horne Darwin on 08 8941 8941. 

[i] https://www.raineandhorne.com.au/darwin/properties/14-britomart-gardens-alawa-0810-northern-territory