Darwin October quarter median house and unit price round-up
Darwin house prices are forecast to grow by between 5% and 10% in 2012, according to Australian Property Monitors.
“Darwin has recorded a typically erratic pattern of median house price growth in 2011 with October quarter median house prices decreasing markedly by -3.5% and down -3.9% over the year ending October,” says APM senior economist Andrew Wilson.
“Darwin also has good prospects of sustained house price growth through 2012 as it resumes its volatile pattern of housing market activity.
“Significant exposure to the resource sector, seasonal employment patterns and a severe shortage of accommodation will drive increased home buyer activity levels. It would not surprise to see Darwin record double-digit house price growth by the end of 2012."
