Darwin's housing market has managed to break recent records despite the impacts of the COVID-19 epidemic on prices last year. Will he be able to keep his position this year?
According to the latest Domain report, house and house prices registered respective increases of 2.3% and 0.6% during the last quarter of 2020.
Home prices hit their highest level in two years at $ 533,845. Unit prices also posted their strongest annual growth in four years, rising 7.5% to $ 285,539.
The city's housing market has benefited from the government stimulus, low interest rates and the successful containment of the COVID-19 epidemic, all of which have increased the buyers request.
"The sustainability of the rebound in the housing market depends on continued population and economic growth," the report says.
However, it is essential for Darwin to further improve his employment prospects to continue to attract interstate buyers and to retain those who are already in Darwin.
Recently, the Government of the Northern Territory announced the extension of its BuildBonus grant program, which will continue to provide cash grants until March.
Michael Gunner, Chief Minister of the Northern Territory, said the grant also presented a substantial number of opportunities for the trades and said he expects more work is taking place this year due to grant extension.
“The territory's real estate market is booming for the first time in years, and we want to take this opportunity and make the territory the best place to build and own a home,” he said.
Top suburbs:
alderley
,
st marys
,
greenwood
,
Kariong
,
West Rockhampton
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in real estate, it is important to ensure that you not only have the lowest available rate possible, but also have the right loan features for your needs. needs.
You only need to fill in a few details below and we will then arrange for a local mortgage broker to contact you and determine the characteristics or types of loans that suit your needs. We'll even help you with the paperwork. In addition, an appointment is free.
We value your privacy and take all your information seriously – you can check
our privacy policy here
