Well-presented Darwin apartments achieving prices 15% above previous sales

MAY 9, 2019

A pair of well-presented apartments located in the inner northern suburbs of Darwin have produced sale prices 15% more than previous sales.

“We’re seeing more local buyers recognising that apartments in the city and the northern suburbs still offer good value. If they are well-presented and there are no obstacles in place, these apartments can sell for good prices and relatively rapidly,” says Glenn Grantham, General Manager, Raine & Horne Darwin.

A magnificent three-bedroom apartment with two bathrooms at 12/11 Brewery Place, Woolner sold for $425,000, which is about 15% higher than the last sale in the striking modern residential complex.

The other stunning three-bedroom apartment at 19/9-11 Dinah Court, Stuart Park sold for about $100,000 more than the previous sale in the modern residential complex.

Mr Grantham says, “This breathtaking and well-located apartment exudes style and luxury across a surprisingly modern and spacious floor plan and demonstrates that well-presented properties in Darwin will sell well and are back on the shopping lists of local buyers.

“Centrally located only a short stroll to restaurants, shops, public transport, and Darwin CBD, the local buyers recognised this apartment is a beautiful place to call home.

“The combination of presentation and location incredibly enabled this apartment to go under contract inside of 24 hours of hitting the market.”

Mr Grantham said local buyers rather than interstate investors are leading the charge for quality, well-located Darwin apartments. “With the potential changes to negative gearing and the capital gains tax discount, it’s surprising more interstate investors aren’t taking advantage of Darwin’s apartment affordability and gross yields of 6%, which is the highest of any Australian capital city market.

“That said, some savvy local buyers seem to think an influx of interstate buyers is imminent and probably after the Federal Election and are therefore getting in now before demand for quality Darwin apartments surges.”

For all your sales and property management needs in Darwin and Palmerston contact Raine & Horne Darwin on (08) 8941 8941.