Darwin Blog

DARWIN'S UNSUNG SUBURBS WHICH CAN OFFER MAJOR BANG FOR YOUR BUCK

NT News 12/06/2021
ALICIA PERERA

A HANDFUL of Darwin suburbs that typically fly under the real estate radar but can offer major bang for your buck – even in the Top End’s booming market – have been highlighted in a new report.

Herron Todd White’s (HTW) May month in review report, which focuses on “unsung hero” suburbs across Australia, singled out The Gardens, Ludmilla, Malak and Karama as four suburbs that are still affordable but are likely to see a significant jump in value over the next few years.

HTW property valuer Jeremy Callan said The Gardens, as an inner-city suburb boasting “great amenities” including the Darwin City Golf Course, Mindil Beach Casino Resort, the George Brown Darwin Botanic Gardens and schools, was an area primed for enhancement, noting the proposed Parklands development on Blake St – currently on hold – as one example.

He also identified Ludmilla as a suburb to watch, saying it had similar benefits to its better-known neighbours Fannie Bay and Parap but was typically easier to buy into.

“Although all three suburbs offer great access to the CBD and northern suburbs, it is Ludmilla that offers the most value for buyers and investors,” he wrote. “For instance, a three-bedroom, one-bathroom house at 34 Philip St, Fannie Bay recently sold at auction for $775,000, whereas the superior four-bedroom, two-bathroom house at 60 Nemarluk Drive, Ludmilla sold for just $610,000. For a central location such as Ludmilla, that is so well connected, it is only a matter of time before we see future infrastructure greatly enhance the suburb as well as general gentrification of the residential dwellings already there.”

Malak and Karama were also described as unsung suburbs that had much in common with the rest of the popular northern suburbs, but where it was still possible to buy an entry-level three-bedroom house for less than $400,000.

Raine & Horne Darwin general manager Glenn Grantham, who recently highlighted his own set of Darwin “hot spot” suburbs, said there were a few key things to look for when determining if an area was primed for a big increase in value.

“You’re looking for areas that are really undervalued at the moment for the facilities they have on offer,” he said.

“So if you have somewhere undervalued compared to the suburb next door, have a look around and see if it’s primed for gentrification, and you’ll probably find that that’s a good suburb to invest your money in.”

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