28 / 32
Dwelling values in Darwin have fallen by –2.5% over the second
quarter of 2016, taking them –0.2% lower throughout 2016 to–date
and –1.1% lower over the past 12 months. Darwin home values have
been falling on an annual basis for 16 months; however, the –1.1%
fall over the past year is the slowest rate of decline since March 2015.
Houses in Darwin have recorded an annual value fall of just –0.1%
compared to a much larger –4.9% fall in unit values. With rents falling
at a much more rapid pace than values, rental yields have fallen to
5.1% for houses and 3.9% for units. A year ago gross rental yields
were recorded at 5.8% for houses and 5.3% for units.
NORTHERN TERRITORY
Prices easing in Darwin but
yields still very strong
Median prices across NT
How NT regions compare
Number
sold
Days on
Market
12 month
growth
Darwin City
672
71
–0.7%
Litchfield
206
94
–2.0%
Central NT
286
80
4.5%
Palmerston–East Arm
559
86
–2.9%
Finniss
43
186
–1.7%
Barkly
15
0
–8.4%
Lower Top End NT
108
89
–7.0%
Lower range (25th percentile) Median price (50th percentile) Upper range (75th percentile)
$100k
$200k
$300k
$400k
$500k
$600k
$700k
$800k
Darwin’s performance over time
NT’s best performers
Rolling Median Price (12 months)
Number sold (12 months)
12 month change in median price
Rank
Top Ranked Suburb
1
BAYVIEW
$1,075,000
13 28.7%
2
DESERT SPRINGS
$686,250
19 13.4%
3
GIRRAWEEN
$750,000
17 9.1%
Rank
Top Ranked Suburb
1
NIGHTCLIFF
$505,000
69 9.8%
2
JOHNSTON
$520,000
61 9.5%
3
COCONUT GROVE
$446,500
46 7.6%
Source: CoreLogic
Houses
Units
Median Price
$575,000
$404,000
Quarterly change
–4.3%
5.4%
12 months change
–0.1%
–4.9%
5 year total change
8.4%
5.9%
10 year total change
66.5%
51.4%
26