Darwin Property Market – Prices, Trends, Forecast [January 2025]

Darwin’s housing market experienced modest growth in 2024, with an annual value increase of 0.8%. The median dwelling value now stands at $496,871, reflecting a relatively stable market amid fluctuating national trends​.

Darwin Property Price Growth

Darwin’s price growth was moderate in comparison to other capital cities. The housing sector saw house values rise 0.5% month-over-month in December 2024, while unit values increased by 0.1% during the same period. Over the year, houses grew by 1.4%, while units saw a slight contraction of -0.5%​.

CoreLogic Home Value Index

CoreLogic Home Value Index, Released on 1st January 2025

Darwin Property Market Trends

Darwin’s market reflects a stable rental yield of 6.7% for houses and 7.9% for units, the highest among all capital cities. This indicates that Darwin remains a favorable market for investors, driven by relatively affordable property prices and strong rental performance. Growth was concentrated in specific areas, with Litchfield achieving a 4.4% annual growth rate, outperforming other Darwin suburbs​.

Change in dwelling values over key time periods

Darwin Property Market Forecast

Darwin is expected to maintain its steady market conditions in 2025, supported by affordability and robust rental yields. However, factors such as the anticipated decline in net migration and constraints in housing affordability could temper demand. A potential reduction in interest rates may provide upward pressure on borrowing capacity, which could stabilize or improve property values​.

The Reserve Bank of Australia’s ongoing adjustments to interest rates will likely play a crucial role in shaping market dynamics, as higher borrowing costs limit purchasing power for many buyers.

Here are some of the most recent forecasts by the big-4 banks in Australia:

• ANZ predicts a 5-6% increase in capital city property prices in 2024, with Brisbane expected to see the highest rise at 9-10%, Perth property values could go up by 1-11%, Sydney by 4-5%, and Melbourne prices by 2-3%.
• CBA forecasts a 5% rise in capital city prices, with some variations: Brisbane is anticipated to grow by 6%, Melbourne and Perth by 5%, Sydney by 4%, and Adelaide by 1%.
• NAB projects a 5.4% average increase across the capitals, with Brisbane expected to see a 6.5% rise, Perth and Adelaide by 6.2%, Melbourne by 5.5%, Sydney by 5%, and Hobart remaining flat.
• Westpac expects a 6% growth across the combined capitals, with Perth leading at 10%, followed by Brisbane at 8%, Sydney at 6%, Adelaide at 4%, and Melbourne at 3%

Oxford Economics recently released property forecasts predicting where house prices will be in three years.

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Conclusion for Homeowners

Darwin’s real estate market in 2024 showcased stable but modest growth, underpinned by strong rental returns and affordability. While not experiencing the significant surges seen in other capitals, the city’s market remains resilient. Moving into 2025, moderate growth is anticipated, with external factors like interest rate adjustments playing a critical role in shaping market performance​.

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