Well-priced Darwin properties finding buyers

Well-priced Darwin properties located in the city’s popular inner and northern suburbs are finding plenty of buyers according to leading property expert, Glenn Grantham, General Manager Raine & Horne Darwin.

“In June, our office enjoyed its best start to a month in 2019, while each of our sale reps is averaging 2-3 transactions a month,” said Mr Grantham.

“I can’t speak for our competitors, but well-priced and well-marketed Darwin properties are finding buyers.”

Some vendors are even achieving stronger prices than were possible at the beginning of the year. For example, a perfectly presented four-bedroom elevated house at 26 Pott Street, Moil sold recently for $20,000 more than when it hit the market in January.

Mr Grantham said, “This property that comes with an in-ground saltwater pool has been under contract several times since December 2018 with the transaction falling over due to financial or personal reasons for the buyers.

“In a case of third time lucky, the Moil house has sold for 5% more than the price it went under contract for initially at the end of 2018.

“We’ve had several houses that we’ve sold after they went under contract a few times and in every case, these properties are finally selling for 3-5% more.”

Mr Grantham added that for the buyers of 26 Pott Street Moil the purchase provides welcome relief after several buying misses.

“The new owners said they’d been beaten to the punch by other buyers for every elevated three-bedroom house they’d looked at in the northern suburbs in the $400,000-$500,000 price range.”

Stronger market conditions in the inner and northern suburbs are further indicators the Darwin market is returning to form, according to Mr Grantham.

“You don’t see consistent increases in pockets of the marketplace such as the inner and northern suburbs without reasoning we’ve turned a corner,” he said.

“Of course, the entire market doesn’t increase overnight. However, our leading demand areas always increase first – and we’re watching all those suburbs grow in value.

“Residential properties popular with mum and dad buyers priced between $400,000-$600,000 and located in the city’s northern and inner suburbs represent the buying sweet spot.”

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