Darwin price surge highest in country

Darwin skyline from Zen Apartments rooftop

The Darwin property market recorded its 14th consecutive price rise in September with home prices up almost $64,000 in a year.

The latest PropTrack Home Price Index revealed the median Darwin home price hit a new peak of $558,000 in September with values up for the 14th month in a row.

Darwin home prices lifted 0.4 per cent month-on-month and 11.4 per cent year-on-year with the average cost of a home $63,900 higher than September 2024.

The median house price in Darwin hit $638,000 in September, up $75,500 or 11.5 per cent.

In the unit market, the average price shot up $43,100 or 11.38 per cent to a median of $426,000.

REA Group senior economist and report author, Eleanor Creagh said Darwin home prices had grown by 38.3 per cent in the past five years.

“Darwin is leading annual gains amid surging investor activity,” she said.

Darren Hunt of Real Estate Central Projects said the Darwin property market remained strong with price rises expected to continue through to the new year off the back of listing shortages and good demand.

“Investors still hold sway over the Darwin market and that will continue to be the case for the remainder of the year,” he said.

“Still about 50 per cent of buyers are from interstate … but from a personal perspective I am doing more and more transactions with local buyers at the moment.

“With the reduction in listings, it will become more and more challenging for property investors seeking to buy in Darwin.”

Darren Hunt of Real Estate Central Projects

The experienced real estate agent said the Darwin market was performing even better than data showed.

“The market is only getting stronger but current transactions will not filter through to statistical data for another 30 to 60 days,” he said.

Mr Hunt said despite ongoing price growth in the property market, the Top End still offered good buying.

“Darwin continues to be the most affordable capital city in the country and for first homebuyers or people struggling to find value in other capital cities, one might consider a move to the tropical north to get a foothold on the property ladder,” he said.

In regional NT, growth was more subdued with home prices up 0.17 per cent in September and 3.89 per cent in the past year to a median of $347,000.

After Darwin, the largest annual capital city increases were in Brisbane (10.2%), Perth (9.8%) and Adelaide (8.6%).

These were followed by Hobart (5.2%), Sydney (5.1%), Melbourne (3.35%) and ACT (2.46%).

Prop Track senior economist Eleanor Creagh

“The housing market remains on a firm upward trajectory this spring selling season,” Ms Creagh said.

“National home prices rose 0.5 per cent in September, extending the upswing to a ninth straight month and lifting values 6.2 per cent higher than a year ago.

“The combination of increased borrowing capacities and lower borrowing costs, stronger buyer confidence and renewed competition is underpinning a broad uplift, while momentum is shifting.

“Price growth in Sydney and Melbourne is re-accelerating, Hobart is rebounding.

“By contrast, Perth, Brisbane and Adelaide are normalising after exceptional multi-year runs, with growth slowing, though prices continue to rise and values remain at record highs.”

Ms Creagh said although national growth had accelerated in 2025, it remained below long-run average with stretched affordability leaving limited room for prices to surge at the 20-30 per cent pace of previous booms.

“Looking ahead, this year’s series of interest rate cuts, improved sentiment and the October expansion of the Home Guarantee Scheme will add support,” she said.

“With stock on market constrained and new supply challenged, demand-side stimulus will intensify competition.

“The housing market is poised for further gains throughout spring, though the pace will vary across cities as momentum shifts.”

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