DARWIN property values are up this quarter with the median home price sitting at a little over half a million dollars.
But with 12 per cent more listings on the market than this time last year, there is plenty for buyers to choose from.
Breaking it down, house hunters are looking at a median price of $575,000 while aspiring unit owners have a median of $460,000, according to CoreLogic RP Data figures.
Elders Real Estate general manager Chris Deutrom said from his perspective prices were holding steady.
“We’re finding that there are good numbers of homes on the market,” he said.
“We’re seeing really good activity in the market at our open homes and there certainly has been an increase in the number of transactions closed in our business compared to previous quarters.
“While turnover is still down from previous years, prices seem to be holding steady with some areas showing small increases.”
According to CoreLogic RP Data, prices rose 2.1 per cent in the month of March and 2.4 per cent for the first quarter of 2016.
The good news for buyers is that the median dwelling price of $505,000 is down 1.8 per cent from a year ago and 4.6 per cent from the peak in May 2014.
So what can the median prices get you?
3/13 Quandong Cres, Nightcliff ($440,000).Source:Supplied
17 Stedcombe St, Alawa ($540,000).Source:Supplied
“We’re seeing really liveable family homes selling in the northern suburbs between $550,000 and $600,000 and even some as low as $520,000 to $530,000,” Mr Deutrom said.
“And there are some good older two-bedroom and three-bedroom units available under $500,000 in the market at the moment.
“When you combine that with record low interest rates there is no better time to buy in Darwin.”
The Darwin market has a good selection of properties sitting under the median values.
In the Palmerston suburb of Gunn, you can pick up a well-presented three-bedroom family home in Latram Court for $525,000, while down the road in Durack there is a Queenslander-style home with polished floorboards and a wraparound veranda for $550,000.
On Stedcombe St in Alawa there is a freshly rendered home with an entertainment area next to a big saltwater swimming pool for $540,000.
For those wanting apartment living, there is a two-bedroom, two-bathroom unit in a boutique complex on Quandong Crescent in Nightcliff for $440,000.
Head into the city and you can get a cosy one-bedroom apartment in the new Zen building on Carey St for $369,000 or a two-bedroom property in a complex on McMinn St for bang on $440,000.
Originally published as Buyers still spoilt for choice as prices rise
