houses for sale Darwin

5 Best Suburbs to Consider when Buying Property in Darwin

Darwin property is the perfect place for an investor the put their money, with so much potential in the current market. If you’re looking at houses for sale in Darwin, you’ll want to know which suburbs are the right ones to bank on for growth in the future. Let Elaine Mills Property Management take you on a tour of the five suburbs to look out for when browsing Darwin property.

houses for sale Darwin

Wulagi

In Wulagi, you can anticipate weekly median rentals of around $590 and a gross rental return of 5.58%. House prices in Wulagi have increased by 15.46% over the past year, to a median of $560,000, while they have decreased by -3.45% over the most recent quarter.

Nightcliff

Currently, the median rent is $420 in the northern suburb of Nightcliff and the gross return is 6.69%. With a median value of $410,000, Nightcliff has shown strong growth in unit prices over the most recent quarter (+3.80%) and YTD (+10.81%).

Malak

Investing in Malak could be a smart choice. Here, values increased by 3.18 percent during the last quarter and by 15.82 percent year to date, while median prices are at $567,500,

Rapid Creek

Another area with strong unit price rise is the suburb of Rapid Creek, where prices rose by 1.25 percent in the most recent quarter and by 24.62 percent year to date. The current yield on weekly median rentals, which are $450, is 6.75 percent. When it comes to property for sale in Darwin, Rapid Creek is an excellent place to start.

Darwin City

Finally, the elite in terms of property for sale, Darwin City. Units in Darwin City have delivered exceptional results for investors over the previous three months (+5.10%) and so far this year (+23.10%), with a median price of $453,000. Here you can reliably get a gross rental return of 7.13% and a weekly median rent of $570, making it the top suburb for investors buying property in Darwin.

When you’re looking at houses for sale in Darwin, Elaine Mills Property Management can help you invest successfully in the local property market. Contact us online or call us now on 08 8983 1800.