Northern Territory Real Estate Overview
Extract from Raine & Horne Media Release: August 2016
The northern Darwin suburbs of Leanyer, Jingili and Alawa continue to attract significant buyer attention, despite the Northern Territory being forced to endure the twin events of a Federal election and a local poll, which is set for Saturday 27 August.
“We’re seeing between 8 and 12 groups at open homes in the northern suburbs, where 1 or 2 groups is the average for Darwin inspections,” said Glenn Grantham, General Manager, Raine & Horne Darwin. “The buyer interest in Leanyer, Jingili and Alawa is contributing to some excellent sales activity, when properties are priced to sell.”
A stylish, elevated, three-bedroom house located at 4 Ada Street, Jingili was recently placed under contract after receiving five offers over $500,000. “This property was secured by an owner-occupier with its location close to Jingili Water Gardens, Charles Darwin University, numerous shopping centres, various schools and transport proving a winning combination,” said Glenn.
“It’s pleasing that we’re seeing this market activity, given we’re in the grip of a very busy political season bookended by the Federal and NT elections,” said Glenn. “Election campaigns tend to stymie real estate activity and we’ve had to endure a political double dose in Darwin this dry season.”
Savvy buyers have recognised that quality, well-located properties in the Darwin CBD represent excellent value and long-term growth prospects. “There have been some rare three-bedroom apartments located in modern high-rise apartments in the CBD selling for high-$800,000s. These apartments sold for low $700,000s in 2012,” said Glenn.
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