Darwin Gears Up for a Property Market Bull Run

Darwin is currently leading all capital cities across several key market indicators, here’s a look at the standout data points:

1. Median Days on Market

The median days on market for the three months to April dropped by 13% compared to the same time last year. The biggest fall of all the capital cities, signaling quicker sales and increased demand.

Source: CoreLogic

2. Sales Volumes Surge

Sales volumes jumped by a massive 35.3% over the past 12 months, the largest increase across all capital cities. By comparison, the national average was just 2.7%. This surge in demand is especially impactful in a smaller market like Darwin (population ~150,000), where even moderate buyer activity can drive significant price movement.

Source: CoreLogic

3. Rents on the Rise:

As of May 12, Darwin’s house rents have increased by 2% over the previous 4 weeks, the biggest rise of all the capitals. Canberra is next in line with a 1% increase, while the national average across all the capital cities headed in the other direction and dropped by -1.1%.

Source: SQM Research

4. Vacancy Rates

Darwin’s vacancy rate remains among the lowest in the country at 0.7% for April, dropping from 0.8% the previous month. Less supply + more demand = prices going up!

Source: SQM Research

5. Property Values on the Rise

Darwin recorded 1.1% growth in April, the highest monthly gain of any capital city. It also tops the charts for quarterly growth at 3.4%, leaving Sydney, Melbourne and Brisbane trailing behind in second place with just 1.0% each.

Notably, Darwin prices have increased by 1% or more in each of the past two months, reinforcing its momentum as the national frontrunner.

6. New Listings Drop

New listings in Darwin have dropped by 27.3% compared to this time last year, while total listings are down by 32.5%, the largest decline in both categories across the capitals.

Source: CoreLogic

7. Affordable Prices

Darwin home prices remain 2.7% below their peak in May 2014, over a decade ago, but with strong growth in sales, rents and demand, coupled with a significant drop in listings, a rebound appears imminent.

Source: CoreLogic

Source: CoreLogic

8. Highest Rental Yields in the Nation

Darwin leads all capital cities with a standout rental yield of 6.6%. For comparison, the next highest is Hobart at just 4.4%, with Sydney in last place, lagging far behind, at 3.1%.

Source: CoreLogic