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Property prices in Darwin

14 January 2016 by News Desk

darwin01Darwin in Australia is giving Sydney a run for its’ money when it comes to high-value properties.

With the average price of a house in Sydney city centre now $1 million, Darwin now has two suburbs with average house prices over $1 million.

The suburb of Larrakeyah in Darwin now has an average house value of $1.14 million, while Fannie Bay – previously the city’s only million-dollar suburb – has average house prices of $1.05 million.

And the suburb of Bayview is not far behind with an average house price of $974,221.

And there is no shortage of buyers. Nine properties were sold in Larrakeyah last year, 24 properties were sold in Fannie Bay and 16 properties were sold in Bayview.

The suburbs of Brinkin, Marlow Lagoon and Nightcliff have also seen big increases in values, and popularity. Average price of property in Girraween is $827,338, Howard Springs ($819,537), Lyons ($814,607) and Marrara ($800,310).

Other up-and-coming suburbs to watch out for in 2016 include Moil, Tiwi and Alawa, according to CoreLogic RP Data’s Best of the Best for 2015.

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