Darwin Blog

QUALITY DARWIN PROPERTIES SOLD IN 48 HOURS, WITH INVESTORS LEADING THE CHARGE.

Election fails to take wind out of contrarian Darwin’s real estate sails

The 2022 Federal Election battle has failed to restrict demand for Darwin real estate

Key points

Investors from Sydney and Melbourne ignore the Federal Election noise to lead the charge for Darwin real estate.
Darwin properties are selling within 48 hours, with many properties selling after attracting multiple offers.
Darwin could achieve annual growth of 15% in 2022 as locals, and interstate investors compete for quality, well-located properties.

Unlike past campaigns, the 2022 Federal Election battle has failed to restrict demand for Darwin real estate, according to a leading local expert.

“With the ALP taking cuts to negative gearing and the capital gains tax discount off the table, southern state investors continue to lead the charge for Darwin real estate,” said Glenn Grantham, General Manager, Raine & Horne Darwin.

“There is still plenty of confidence and our city’s rare combination of real estate affordability, yields as much as 7-8% and next to no rental vacancies are attracting these investors.”

Mr Grantham continued, “With the markets in Sydney and Melbourne returning to pre-COVID norms, Darwin may be the leading capital city for real estate growth by the middle of next year.

“Darwin is what more sophisticated investors deem a contrarian property market. Over the last 30 years, when the East Coast capitals take a breather, this market is usually in overdrive.

“Over the remainder of this year, Darwin will be right up with the leading capital cities and could potentially be growing at an annual rate of 15% by the end of the year.”

To illustrate the strength of the Darwin market, in April, Raine & Horne Darwin sold an original three-level home at 2 Gregory Street, in the prime Darwin coastal location of Fannie Bay, for a price above $900,000.

Raine & Horne Darwin also sold an elevated home in Darwin’s famous art and culture suburb of Parap. After attracting multiple offers, this unique tropical-style home at 13 Drysdale Street, Parap, also sold for a high $900,000s price tag.

13 Drysdale Street, Parap, NT 0820 sold for a high $900,000s price tag

“These properties were selling in a few weeks with 13 Drysdale Street, Parap on the market for just 48 hours. Moreover, this fabulous home was appraised in April 2021 at around $750,000.”

Get in touch:

For all your real estate sales and property management needs in Darwin, and Palmerston or to find out about the auction process, contact Raine & Horne Darwin on 08 8941 8941.

For further media information contact:

Glenn Grantham, General Manager, Raine & Horne Darwin on 0418 803 222
Olivia Rowe, Content & Communications Executive, Raine & Horne Group on 0432 113 569