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Darwin Property Investment 2017

According to the April RP Data-Rismark Home Value Index results, Darwin property investment continued to perform strongly. The RP Data results show that once again Darwin properties attracted the highest rental yields of any capital city. Houses recorded rental yields of 5.8%, while units recorded yields of 6.1%.

Real Estate Institute of NT CEO Quentin Kilian says that over the last 10 years Darwin has outperformed every capital city in rental yields. This is because high demands for rental properties and limited stock have led to high rental prices and strong returns. Given the city’s growing population and the current state of the NT’s economy, this seems unlikely to change soon.

The latest CommSec State of the States report shows that the NT is Australia’s second best-performing economy, just behind WA. In fact, it is ranked as the strongest on four economic fronts: economic growth, business investment, unemployment and construction work.

Further, the NT leads the rankings on economic activity and maintains the fastest annual economic growth in the country (up 11.5% on last year). The report says the economic momentum derives from commercial and engineering construction but is being held in check by the housing sector’s weak growth.

Amidst all the good news, one report does sound a note of caution. The latest Deloitte Access Economics Investment Monitor points out that work on many of the NT’s major projects is due for completion over the next year. Even the massive Ichthys LNG project is set to wrap up in 2016.

With activity in the non-residential construction sector modest and not much in the pipeline, a $300m mixed development planned for Palmerston is currently the leading light, the report adds.

Investors reign in Darwin market

According to the latest Herron Todd White report, Darwin’s market might be good for seasoned investors but is proving problematic for the first home owners.

Not surprisingly, affordability is the key issue. With Darwin being one of the highest-priced property markets in the country, first home owners are simply being priced out of the market. Meanwhile, continued low interest rates and the strong rental market are drawing in investors.

The report states that investors have been particularly active in the inner Darwin market. Up to 70% of some of the CBD developments underway have been sold off the plan to investors.

National Investment Planning provides investment property selection and guidance for investors in the Darwin property market.

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