Darwin property values holding steady – realestate.com.au

News Corp Australia Network

Home prices in Darwin dipped just 0.01 per cent in September.

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Home prices in Darwin have remained steady with only a slight dip in values in September, according to the latest data from PropTrack.

The September PropTrack Home Price Index showed the median home price in the Darwin region dropped 0.01 per cent for the month to sit at $495,000.

PropTrack senior economist and report author, Eleanor Creagh said this was 1.64 per cent below the September 2022 median and 2.43 per cent below the May 2022 peak.

“Unlike many other markets, Darwin has not seen a recovery in prices in 2023, but it also did not see as large a downturn in 2022,” she said.

“Home prices have increased by 25.5 per cent in Darwin since March 2020.”

PropTrack senior economist Eleanor Creagh. Picture: Supplied

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Darwin house prices did see a slight increase in September, with the median up 0.02 per cent to $557,000.

However this figure was down 2.23 per cent year-on-year.

In the unit market, the median price was sitting at $395,000, down 0.06 per cent in September and holding steady year-on-year, according to the figures.

In the rest of the Northern Territory, the median home price was down 0.19 per cent for the month and 0.28 per cent since September 2022 to sit at $440,000.

This meant the median home price was 1.73 per cent below the December 2022 peak.

The regional median house price was also down 0.2 per cent month-on-month and 0.38 per cent year-on-year to $470,000.

The five-bedroom property at 93 Thorne St, Muirhead, sold for $997,000 in September. Picture: realestate.com.au

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Nationally, the median home value was $754,000 in September, up 0.35 per cent for the month and 3.75 per cent year-on-year.

The combined capital cities median home price increased 0.41 per cent for the month and 4.76 per cent for the year to sit at $817,000, while the regional median was up 0.18 per cent for the month and 1.28 per cent for the year to $619,000.

In Sydney the median home value was sitting at $1.057m, followed by ACT ($842,000), Melbourne ($810,000), Brisbane ($762,000), Adelaide ($689,000), Perth ($597,000), Hobart ($677,000) and Darwin ($495,000).