Facing the Timor Sea, the city of Darwin serves both as the capital city of Australia’s Northern Territory and the county’s immediate gateway to Asia. With a population of just over 150,000 residents, Darwin is the largest city in the whole Northern Territory’s sparsely populated area.
It is the smallest of all the country’s capital cities, and also the most northerly located. What it lacks in size, it more than makes up for sights and convenience. The Darwin real estate market might be under the radar for the common eye, but to foreign investors and first-home buyers, it is a steady performer and an affordable option.
Real Estate in Darwin: By the Numbers
Buying a house in Darwin, the current median house price costs $953,576 in the average while the median unit value is at $463,247. When it comes to renting, the average cost of a house property rental in the city of Darwin is at $670, with average rental returns of 3.4%. Units are available with the current median weekly rent of $520, averaging a return of 5.71%.
The average listing duration for the city is 90 days, more or less. Most of the residents here are professionals, with the city averaging $1121 per week in income. In terms of properties and home ownership, renters are in the majority with 67% of the residents, with only 8% of the whole group owning the abodes. Majority of Darwin’s residents are aged between 20-29 which is 33% of the population, followed by maturing adults of ages 30-39 with just over 20%.
(Data from Realestate.com.au)
Why Choose Darwin Real Estate
Darwin’s laid-back and relaxed atmosphere is brought about by the stunning natural beauty surrounding it, partnered with the modern city twist that is housed in the Central Business District. Rich in culture and history, Darwin maximizes the tropical weather to extent with numerous outdoor festivals and events mostly celebrated during the dry season.
Mining and tourism industry has greatly boosted the local economy of the city with $2.5 billion per annum, while the military presence in the general area serves as a viable employment option too. Aside from serving as the country’s gateway to Asia, the city’s docks are also a major factor in international trade.
When it comes to transportation, Darwin has you covered. Although residents here are usually car owners the city is well-serviced by busses too, and just 15 minutes from the Central Business District is the Darwin International Airport. Healthcare is handled by several medical centers throughout the city, with the Darwin City Medical Centre and the Cavenagh Medical Centre among the most known names. The Charles Darwin University can also be found in the city, alongside St. Mary’s Primary School and other learning centres. If you are looking to be entertained, there are a number of options to choose from. Walk through the galleries of the Museum and Art Gallery of Northern Territory, or stroll in the Bicentennial Park. Enjoy a unique outdoor cinema experience in the Deskchair Cinema, or catch a movie in the indoor BCC Cinema. Sing, dance, and enjoy a night-out with friends in the local pub favorites including the Shennanigans Irish Pub, the Deck Bar, and the Precint, among others.
A laid-back city with the convenience of the Central Business District right in its doorstep, Darwin is a haven for the people who enjoy the great outdoors. Buy a real estate property in Darwin now and experience the relaxed vibe of this beautiful city everyday!
Other States in Australia
Other locations in Australia are equally as desirable as the Northern Territory. Choose a region below to find out the best locations in the area. If you need information on the real estate buying process for foreigners in Australia, check our Foreign Investor's Guide.
Do you need help in finding the right property? Contact us and we'll assist you with your investment needs.