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More stock on market in Darwin

By Nick Syrimi

More homes on the market usually means lower prices, something home buyers of all stripes can get excited about. After all, whether it's your first time buying a house or you find yourself switching addresses after many years of being a home owner, everyone wants a good deal.

If that's the case for you, the latest data from SQM Research probably comes as a relief.

The organisation reported on 3 June that the number of residential property listings increased during May. In fact, on a monthly basis, stock increased 5.2 per cent.

If you're looking to buy property in Alawa, the news is even better.

SQM Research reported that the Northern Territory's capital city was leading the pack when it came to increased inventory on an annual basis.

"With a 21.7 per cent yearly increase, the only capital city to experience a radical rise in listings since May 2013 is Darwin, where stock level increases have been an ongoing trend for some time now," SQM Research stated.

"Conversely, Canberra is experiencing the most substantial decrease in stock listings since this time last year, with a -11.4 per cent decrease, which is a surprise given the ongoing expected downturn."

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