Units offer capital growth potential in Darwin
Looking to invest? Chances are capital growth will be high on your list of things to search for.
Based on Australian Property Monitors' (APM) latest quarterly house price report, this shouldn't be a problem for property buyers in the Northern Territory.
"Australian house prices continued to rise over the June quarter with most capitals reporting higher or similar growth levels when compared to the previous March quarter," APM senior economist Dr Andrew Wilson stated in the report.
"The national median house price increased by 1.9 per cent over the quarter, the same result as the previous quarter. The national median unit price recorded a sturdy rise of 2.5 per cent, which was
higher than the 1.6 per cent increase of the March quarter.
While Darwin's median house price fell by 1.9 per cent on a quarterly basis, its annual median house price rose by 1.3 per cent.
However, it was units which showed the most capital growth potential in Darwin. Units saw a price rise of 2.1 per cent over the June quarter, as well as a growth of 8.7 per cent on an annual basis.
With this in mind, investors may want to turn their attention to property in Darwin, particularly units in the CBD.