Buyers must act before quality homes in desirable Darwin suburbs dry up

OCTOBER 7, 2019

The supply of quality well-located properties in Darwin’s central and northern suburbs is shrinking and committed buyers would do well to make a move now, warns Glenn Grantham, General Manager, Raine & Horne Darwin. 

“We’ve had 40 groups through a neat house at 11 Gulnare Street, Millner, which is on the market for offers over $410,000,” Glenn said. “We get constant enquiries about this house because it’s priced to sell, but only two contracts have been taken out. 

“What this tells me is that many people are taking a lot of time to make a buying decision. This situation is all well and good now, but with quality, well-priced properties in desirable locations such as Millner starting to dry up, tardy buyers run the significant risk of being disappointed. 

“At some point in time, those taking weeks to decide will discover the pool has dried up, and they’ll have no option but to pay top dollar for properties that need more work.”

Glenn continued, “If you don’t believe me, search online for properties valued around $400,000 in Millner. There’s nothing. This is the only property in the low $400,000s in this desirable location.

The shortage of desirable properties will be exacerbated in Darwin’s desirable suburbs once interstate investors re-enter the market in pursuit of high-yielding real estate opportunities, Glenn concluded.

If you’re looking to buy or sell a property in Darwin, contact Raine & Horne Darwin on 08 8941 8941.