Darwin Blog

Darwin, NT (25 September 2019): Affordable property combined with historic low-interest rates, massive infrastructure projects, and very competitive rental yields are catching the eye of Darwin investors, according to a leading local property commentator. 

“There is some mighty news on the infrastructure front with Atlassian’s billionaire co-owner Mike Cannon Brookes now backing the $25 billion SunCable solar farm in Tennant Creek. This project is set to power Darwin and Singapore,” said Glenn Grantham, General Manager, Raine & Horne Darwin. 

“The solar project will create thousands of jobs over the next 7-8 years in this city as the cable between Tennant Creek, Darwin, and then Singapore is completed. 

“Throw in the massive $400 million ship lift to be built in Darwin Harbour, and there are excellent signs for jobs and population growth, which are factors driving demand for property in Darwin.”

Mr Grantham said that to date, local investors were leading the charge as it appears southern buyers have yet to absorb the massive real estate opportunities that Darwin offers.

“Not only do we have billions of dollars being invested in job-creating infrastructure, but we offer very affordable and high-yielding investment property opportunities compared to other Australian capital cities,” Mr Grantham said. For more information on other huge infrastrucuture developments in Darwin click here.

“Three-bedroom elevated houses are selling in the suburbs such as Driver in Palmerston for low $200,000s, which are generating yields as much as 10%.

“We don’t have an abundance of investment opportunities such as this. However, because interstate investors don’t seem to have Darwin on their radars, local landlords are getting the pick of the best investment opportunities like this, which will never be repeated.”

Mr Grantham nominates a fully furnished two-bedroom apartment at 4/29 Sunset Drive, Coconut Grove as a perfect property opportunity for interstate investors.

“With a price guide of $250,000 - $300,000, this centrally located apartment between Darwin’s CBD and northern suburbs represents value for a savvy investor with an eye on the FIFO tenant market.

“All a tenant needs is a suitcase, and they are set to enjoy the magnificent lifestyle that Darwin can offer. This property should rent for somewhere between $380 - $400 a week and is just waiting for a savvy investor to snap it up.” 

If you’re considering investing in Darwin’s property market and would like to know more, contact Raine & Horne Darwin on 08 8941 8941 or email Glenn at [email protected].