Houses are selling faster in Darwin’s northern suburbs than anywhere else in the NT, according to new data.
The latest REA Market Trends report shows seven of the NT’s top 10 suburbs with the shortest days on market for house sales are in the established region.
Houses in Wanguri sell the quickest, sitting on the market for just 33 days on average.
Nightcliff comes in second with 37 days on market followed by Millner (38 days), Wulagi (44 days) and Ludmilla (48 days).
The median days on market for the greater Darwin region is 57.
The property at 24 Weedon Street, Wanguri, was already under contract after being on the market for 15 days.
Raine and Horne general manager Glenn Grantham said the northern suburbs was an area popular with family buyers.
“It’s the number one choice for families,” he said.
“In Darwin we’ve got a very large percentage of apartments in the (city) area.
“However, if you’re a family shifting to Darwin with a couple of kids, this is the place you want to be for proximity to the CBD, hospitals, schools and the beach.”
The local real estate expert said the northern suburbs was a well established area and generally had larger blocks, which was an item high on the wish list for many family buyers.
“Everyone wants to be able to put their feet on grass,” he said.
“It’s the great Australian dream that you have the quarter-acre block and the family home.
“It’s what we’re all brought up on.
“Whereas the smaller blocks are more about affordability or having something low maintenance so you can lock up and leave.”
42 Robinson Road, Millner is listed for offers over $645,000.
Mr Grantham said shorter days on market was a result of demand outstripping supply.
“Shorter days on market then puts more pressure on supply and more pressure on upwards movement for pricing,” he said.
In Wanguri and Millner the median house price has been somewhat stable in the past 12 months increasing 1.3 per cent to $633,000 and 1.1 per cent to $556,000 respectively while the median house price shot up 17.4 per cent to $962,500 in Nightcliff, 14.4 per cent to $595,000 in Wulagi and 5 per cent to $770,000 in Ludmilla.
NT suburbs with lowest days on market (house sales)
Wanguri – 33
Nightcliff – 37
Millner – 38
Wulagi – 44
Ludmilla – 48
Virginia – 51
Anula – 52
Leanyer – 52
Tiwi – 54
Farrar – 55
For all your real estate sales and property management needs, or to discuss the market in the Darwin, Palmerston, or rural area, contact the office on 08 8949 8941.
Originally published as The NT suburbs where homes sell the fastest