Darwin’s real estate markets will go into overdrive due to a raft of recent infrastructure project announcements by the NT Government and private enterprise confirmed leading real estate spokesperson Mr Glenn Grantham, General Manager, Raine & Horne Darwin.

 The new $1.5 billion HyperOne high-speed network is headlining the announcements with the new national hyperscale digital infrastructure project expected to supercharge the Territory’s economy and create around 10,000 jobs during construction including 1,000 jobs in the Territory.[i]

 HyperOne will directly connect Darwin to every capital city in Australia for the first time with high-speed world-class fibre. The project will see 20,000 kilometres of new high-speed fibre cable laid across Australia, with 2,200 kilometres installed in the Territory.

 Mr Grantham said, “A decade ago, the construction phase of the multi-billion dollar Inpex-Ichthys gas project attracted thousands of workers to Darwin. This demand fuelled the city’s sales and rental markets for the best part of five years. 

 “Whether it’s a new airport or a massive fibre cable, there is a significant correlation between infrastructure development and growing property activity and prices. Major projects such as HyperOne can supercharge demand for property in Darwin.”

 Significantly, Inpex has expressed its intention to build a third LNG train at its Ichthys project at Blaydin Point by the middle of this decade, an announcement that also augurs well for jobs growth in Darwin and demand for real estate, Mr Grantham noted.

 Other infrastructure projects slated for Darwin include a $200 million development proposal for the Darwin Waterfront. The new development will consist of a surf park, a tropical snorkelling lagoon, pools, and playgrounds.

 “The international standard waterpark will be a game-changer for Darwin. It provides an extra and much-needed attraction for holidaymakers visiting the city, and will require plenty of headcount to build,” said Mr Grantham.

 Investors urged to invest before projects start

 Given infrastructure projects such as the waterpark and HyperOne are well and truly on the table, Mr Grantham recommends that now is the time for those investors thinking of investing in Darwin to make a move.

 “As we’ve seen with significant infrastructure investments that attract more workers in the past, property prices can jump by 10-15% because of the extra demand created by workers shifting to Darwin to support these projects,” he said.

 “So, while investors can still secure properties in Darwin with yields in excess of 7%, these returns won’t last as more workers flood into the city and start pushing up prices.” 

 Mr Grantham added, “The NT Government has recognised the impact these infrastructure projects will have on population growth and has fast-tracked the development of two new Darwin suburbs Holtze and Kowandi[ii] from 2026 to 2024.”

 Already some of Darwin’s Northern suburbs markets, such as Rapid Creek, Parap and Fannie Bay, are generating extraordinary results as the flood of good news about infrastructure continues. 

 “Some properties have produced results under the hammer that are many hundreds of thousands of dollars above the vendors expectations in some northern suburbs,” Mr Grantham said. 

 Consequently, Mr Grantham expects strong demand for a four-bedroom property at 2 Gregory Street Fannie Bay. Perched on a 1200 square metre block with direct ocean views, this unique property is expected to fetch a price of $1.2 million. 

 “This is a traditional Darwin home that will attract renovators and investors and even before it hit the market it attracted interest from buyers in NSW,” Mr Grantham said.

 For all your real estate sales and property management needs in Darwin, and Palmerston or to find out about the auction process, contact Raine & Horne Darwin on 08 8941 8941. 

[i] https://createsend.com/t/t-0A52E14D795A91BF2540EF23F30FEDED

[ii] https://createsend.com/t/t-92C4436655BE943B2540EF23F30FEDED