Darwin clearance auction helps attract motivated interstate investors

Media release

Ten properties in Darwin will go under the hammer on Wednesday 21 March at the inaugural Raine & Horne Darwin Clearance Auction
The clearance auction has gained substantial traction with owner occupiers and investors following a high-impact marketing campaign conducted by Raine & Horne Darwin
The properties will be auctioned in rooms at the Atrium, 12 Salonika St, Parap from 6 pm on Wednesday 21st March.

Darwin, NT (19 March 2018) – With the Darwin property market now officially at the bottom of the cycle, Raine & Horne Darwin is responding by auctioning 10 properties in a single night on Wednesday 21 March.

A highlight of the first-ever Raine & Horne Darwin Clearance Auction will be the sale of a stunning three-bedroom apartment with stunning views of the marina at Cullens Bay. The unit that is located at 16/16 Marina Boulevard, Cullen Bay is also near the Darwin CBD, SkyCity casino, Mindil Beach Markets, and Darwin Botanical Gardens. Bidding for this quality, well-located apartment is expected to start at $480,000.

“Despite Darwin’s real estate values beginning to improve slowly, there is still a surplus of properties on the market. As such, we have decided to hold a clearance auction that puts motived sellers and buyers together to help get the market moving,” said Glenn Grantham, General Manager, Raine & Horne Darwin.

“Over the past three weeks, we have conducted a high impact marketing campaign that includes collaborating with the major property portals such as realestate.com.au and Domain, as well as social media, to promote the event.

“As a result, we have had fielded strong enquiries from local owner-occupiers and investors, as well as some requests for contracts from interstate buyers who have been attracted by the quality and affordability of the stock that is set to go under the hammer.”

Initial bidding will start at prices slightly below current market expectations, according to Mr Grantham.

“With the market starting to improve, buyers and investors won’t see this type of residential stock at these prices again,” Mr Grantham noted.

“It’s just very rare for Darwin that you’d have 10 motivated owners taking their properties to the market in this way and at the same time.”

An auction is becoming a more accepted method of sale in Darwin, according to Mr Grantham.

“Selling under the hammer is the best way to flush interested buyers out of the woodwork,” he said.

“It puts deadlines on buyers and sellers, and it gets both a fair market price.

“The auction night is an amazing effort by the team at Raine & Horne Darwin and shows the success of our effort and how owning real estate in Darwin is once again on the radar of interstate investors.”

The Raine & Horne Darwin Clearance Auction will be held at the Atrium, 12 Salonika Street, Parap from 6 pm on Wednesday 21 March. For more information about the auction, or to register your interest, contact Raine & Horne Darwin on 08 8941 8941.

Breakout: Raine & Horne Darwin Clearance Auction, 21 March 2018

Property location	Type of property
36/93 Smith Street, Darwin City	2-bedroom apartment
30/5 Cardona Court Darwin City	2-bedroom apartment
21/ 24-harvey Street Darwin City	2-bedroom apartment
14/16-18 Mackillop Street, Parap	2-bedroom apartment
1/51 Knuckey Street, Darwin City	1-bedroom apartment
4/5 Brewery Place, Woolner	3-bedroom apartment
16/16 Marina Boulevard, Cullen Bay	3-bedroom apartment
42 Richards Crescent, Rosebery	3-bedroom house
19/2 Mitaros Place, Parap	2-bedroom apartment
72/21 Cavenagh Street, Darwin City	1-bedroom apartment

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For further media information contact:

Glenn Grantham, General Manager, Raine & Horne Darwin on 0418 803 222