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Darwin offers higher affordability to home buyers

By Nick Syrimi

Even with historically low interest rates, there's no denying that expensive property prices can make it hard to get your foot on the ladder.

And while home prices may continue to rise overall across Australia's capital cities, at least one researcher believes that price growth has peaked and prospective buyers may be able to look forward to greater affordability.

RP Data research director Tim Lawless said in a 1 July media release that data shows the quarterly rate of growth peaked in Australia during August of 2013.

"Since that time the rate of capital gain has generally trended towards a more sustainable level," he continued.

"The slowdown in dwelling value appreciation will be a welcome relief to policy makers and those seeking to buy into the housing market."

As an added bonus to those considering buying property in Alawa and surrounding regions, the latest RP Data Rismark Hedonic Home Value Index showed that Darwin was one of only two cities that didn't see further price growth during June, helping affordability further in the region.

Meanwhile, as property prices surged 15.4 per cent in Sydney over the past year, Darwin experienced a more modest 5.7 per cent growth.

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