FOR years, people from all over the nation have been buying investment properties in Darwin.
It has always been well-known among investors that the Territory’s capital is home to fantastic rental yields and just this week, new CoreLogic data revealed that Darwin’s rental yields are the highest of any Australian capital city at 5.8 per cent.
Although weekly rents in Darwin have fallen 1.6 per cent, rock-bottom property prices continue to attract the attention of investors right across Australia and even overseas.
Territorians considering entering the property market are being urged to do so as soon as possible with housing more affordable than ever.
With a wide range of houses, units and apartments on the market in Darwin and Palmerston, there are certainly plenty of options for people looking to make a worthwhile investment in the Top End.
And while the Darwin property market may not be particularly strong at the moment, numerous professionals in the real estate industry are confident it won’t take long to boom again.
As the northern gateway city to Asia, Darwin is one of Australia’s fastest growing capital cities and will continue to grow as a popular tourist destination for people all around the globe.
Investors can also be reassured of the Territory Government’s commitment to tourism, with a $103 million tourism package announced earlier this year.
This funding will not only help improve the economy but will eventually give the Territory property market a much-anticipated boost.
So what are you waiting for? Snap up a bargain in Darwin or Palmerston now and reap the rewards later.\