Sydney developer Deicorp is set to officially open its <a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill-nsw-2154">Showground Village</a> precinct in Castle Hill.

NSW Premier Chris Minns will attend the opening on Sunday August 31, alongside&nbsp;Minister for Planning and Public Spaces Paul Scully, The Hills Shire Council Mayor Dr Michelle Byrne, Landcom CEO Alex Wendler, and Deicorp Founder Fouad Deiri.

There will be a ribbon-cutting ceremony before a tour of the newly opened retail precinct.&nbsp;

&nbsp;

Located just moments from Hills Showground Metro Station, the centre spans 9,500 sqm across four levels and features 26 specialty retailers as well as a 1,400 sqm public plaza, creating a new community meeting point for shopping, dining, fitness, and everyday convenience.&nbsp;

The grand opening will be celebrated with a family fun day, featuring free entertainment, children’s activities, and a Skill Tester Machine with guaranteed prizes ranging from Woolworths gift cards to a $5,000 Flight Centre voucher.&nbsp;

Showground Village forms part of the Hills Showground Station Precinct, an urban renewal initiative led by Landcom and Sydney Metro that will provide for around 2,300 new jobs over the next 20 years and around 9,000 new homes.&nbsp;

Deicorp was recently approved for another new development next door to Showground Village.

The new five residential buildings in the East Showgrounds Precinct, will see another 873 dwellings delivered, as well as&nbsp;3,500 sqm of open public space in the form of landscaped courtyards, a public park and communal outdoor recreational space including a playground, barbeque area, and outdoor seating.

“This approval will allow us to start construction on a range of beautifully designed, conveniently located apartments and create another vibrant, walkable and well-connected community,” said&nbsp;<a href="https://www.apartments.com.au/developers/deicorp" target="">Deicorp</a>&nbsp;Founder Fouad Deiri.

“These new homes will provide their residents with a seamless connection to jobs and services along Metro North West, and the new&nbsp;<a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill" target="">Hills Showground Village</a>&nbsp;retail precinct currently under construction."

Deicorp has several thousand apartments in planning and under construction across Sydney, from Zetland and Five Dock to Crows Nest and Macquarie Park.

[smartcode_project_cta:default project_id=133881]

Joel Robinson

Deicorp, NSW Premier to officially open Showground Village, Castle Hill’s new retail and hospitality hub

The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.

Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.

Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.

The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.

To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.

Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.

The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.

The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.

Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.

The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.

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Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

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Fresh off completing its mixed-use Malvern project Malvern Collective, Kokoda Property Group has acquired a prime site on Richmond's Bridge Road.

They are planning a mid-rise residential development with&nbsp;integrated wellness amenities and a vibrant ground-floor retail and dining offering.

The site, at&nbsp;487–495 Bridge Road, spans&nbsp;1,650 sqm with 50 metres of dual frontage across Bridge Road and Palmer Street. It is currently leased to Adairs, and has a large retail building and 20 onsite car parks.
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Kokoda Property Group’s acquisition forms part of a broader phase of growth in Melbourne, building on momentum from the completion of Malvern Collective and the recent purchase of a Burnley Street site for the developer’s first commercial project.&nbsp;

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating.

“Melbourne is regaining momentum,"&nbsp;Stevens said.

"After a cautious period post-COVID, we’re seeing buyer sentiment stabilise and capital leaning back into well-located, quality projects. Victoria now benefits from deep builder capacity and competitive delivery pricing, creating a rare opportunity to bring design-led inner-city developments to market without compromising on craftsmanship.

“Richmond ticks all the boxes for us – connectivity, culture and everyday amenity – making Bridge Road the perfect address for an amenity-rich, multi-use development."

Envisioned as an “urban lantern” the building will bring a distinctive new presence to Bridge Road with a sculptural retail frontage, designed to honour the street’s heritage character while contributing to its renewal.

Stevens said the acquisition reflects the developer’s commitment to design-led addresses in Melbourne’s inner city.

“Drawing on Richmond’s rich heritage and dynamic character, we’ve envisioned a contemporary building that respects the past while elevating the way people live today. With dual frontages, curated ground-floor spaces, and a focus on wellness, this project will contribute to the neighbourhood’s evolution, appealing to both downsizers and a new generation of professionals.”

Kokoda Property will now progress concept design ahead of a future planning process.
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Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating

First look: Kokoda secures Richmond site for new apartment development

Gold Coast developer Drew Group is fast approaching sell-out at its Main Beach apartment development, Lagoon Main Beach.

In the last nine months, Drew Group and sales partner Pezet Matheson have secured 31 sales totalling over $75 million, as the two-tower development advances towards completion under the expert eye of Hutchinson Builders.

“Today's buyers are more discerning than ever," Drew Group Managing Director Jon Drew says.

"It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

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Just over 50 per cent of recent&nbsp;sales have been to local buyers, reflecting the deep trust and connection within the Gold Coast community that Drew Group has developed over the years.

Demand has been particularly robust at the top end, with two of the three exclusive penthouses already sold, alongside five sub-penthouses. Only seven apartments remain in Lagoon's Signature Series — one&nbsp;penthouse and six sub-penthouses.

[smartcode_project:default project_id=108747 project_image_fid=284864]

Drew Group has also removed the much-maligned sunset clause from all contracts at Lagoon. The sunset clause — although rarely invoked, yet on occasion known to have been — allows developers to take back contracts on apartments should the building not be completed within the timeframe specified in the contract.

Pezet Matheson Co-Director Jayde Pezet says the fact Lagoon is&nbsp;within a year of completion, and has no sunset clause in contracts, provides certainty to buyers.

"This is paramount in the current market," Pezet says.

Drew Group has committed to providing the highest level of security inclusions — none more impressive than the Ubiquity Access Control System, a cutting-edge facial recognition technology that is one of the most state-of-the-art keyless entry systems on the market.

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One of the biggest drawcards to Lagoon has been the size of the apartments.

"It is unlikely that any future new development in Main Beach will be able to offer such spacious living at this price point," Drew says.

"Today's buyers are more discerning than ever, carefully evaluating amenities like gyms, spas, workspaces, and beach lockers, along with quality finishes. It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

Lagoon is set to complete construction in mid-2026.

[smartcode_project_cta:default project_id=108747]

Lagoon Main Beach approaches sell-out as local buyers drive $75m in sales

National apartment developer Abadeen has topped out its debut Gold Coast apartment project,&nbsp;<a href="https://www.apartments.com.au/new-apartments/villea-palm-beach-26-mawarra-street-palm-beach-qld-4221">Villea Palm Beach</a>.

Buyers will move into the $120 million development in early 2026, with builder Emicon now focusing its attention towards the fitout stage of the apartments.

<a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a>’s Executive Chairman and Founder, Justin Brown, said topping out at Villea represented an exciting step forward for the company’s national growth and the delivery of a benchmark coastal development.

“Villea Palm Beach represents everything Abadeen stands for — design-led living, premium quality, and the convenience we are bringing for residents to feel part of a perfect beachside community," Brown said.

"It is a particularly special project for us, being our first with spectacular ocean views, just metres from the water and with the addition of ground-floor retail. To reach the top floor is a proud moment, and I am incredibly proud of the Abadeen and Emicon teams for the way they are bringing this project to life for future residents.”

[smartcode_project:default project_id=106840 project_image_fid=336444]

Pierre Saab, Director of builder <a href="https://www.apartments.com.au/builders/emicon">Emicon</a>, said topping out was an exciting milestone and the team is now focused on interiors and detailing.

“This is a fantastic milestone to reach. With the final roof pour complete, we’ve moved into the fit-out stage where the detailing will truly bring Villea to life,"&nbsp;Saab said.

"Standing on the top floor, the team was struck by the stunning 180-degree views of the ocean and all that <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a> has to offer — a daily reminder of the exceptional lifestyle this project will deliver.”

[smartcode_project:default project_id=106840 project_image_fid=336441]

Nick Clydsdale, Director of SRQ, who is managing sales and marketing for Villea, said the milestone marks the next phase of the sales campaign.

“With construction now at its highest point, we are excited to kick start the next phase of the campaign off the back of strong sales momentum driven by the local market,"&nbsp;Clydsdale said.

"Villea is a prized offering in the popular suburb of Palm Beach— ideally suited to owner-occupiers and downsizers seeking a convenient and beautiful coastal lifestyle. At the same time, with forecasts pointing to further price growth across the Gold Coast in 2025, Villea offers investors the opportunity to enter early in the upswing cycle."

[smartcode_project:default project_id=106840 project_image_fid=336442]

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Designed by acclaimed architects <a href="https://www.apartments.com.au/architects/bda-architecture">BDA</a>, Villea comprises 69 two- and three-bedroom residences with light-filled layouts, premium finishes including timber flooring, Fisher &amp; Paykel appliances, and high-performance glazing to maximise comfort.

Many residences capture ocean views, while all benefiting from generous open plan designs and access to shared amenities like a&nbsp;pool, gym, barbecue facilities, and outdoor entertaining spaces, all just 400m from the beach.

A ground floor retail leasing campaign is also underway, with Abadeen set to handpick a curated mix of tenants to enhance the experience for both residents and the wider community.

[smartcode_project_cta:default project_id=106840]

Abadeen tops out Villea Palm Beach

Darwin

The future of our homes continually evolves as innovations in smart and green technologies shape the way our living environments are designed.&nbsp;

International wellness intelligence company Delos identified a gap in the market to create a product focused on improving occupant health and wellness.&nbsp;

[smartcode_project:default project_id=2929 project_image_fid=96197]

DARWIN is home automation at its healthiest. Based on scientific research, it features air, light and water interventions to improve the internal spaces in which we reside. Think filtered air and water throughout the apartment, with the potential to improve&nbsp;lung health, allergies and even the condition of skin; along with lighting geared to respond to our circadian rhythms to improve sleep quality and mood.

Melbourne Square is the first Victorian apartment building to feature the technology, which is on offer to purchasers of new Life &amp; Style apartments.

[smartcode_project:default project_id=2929 project_image_fid=137903]

Want to learn more about Melbourne Square&rsquo;s DARWIN by Delos technology? <a href="/buildings/melbourne-square-93-119-kavanagh-street-southbank">Enquire today.</a>

Olivia Round

A greater focus on modern health & wellbeing: DARWIN by Delos technology is at Melbourne Square

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Major projects are in the planning pipeline for Darwin and the Northern Territory and Darwin’s real estate market desperately needs some of them to proceed.
The local economy lacks activity, jobs creation and population growth – and, as a consequence, property market statistics remain highly negative. 
The regular data on prices and rents continue to show the Darwin market in reverse. Unit prices in Darwin, for example, are down 10.6% (CoreLogic) or 11.7% (SQM Research) in annual terms. The trends also remain negative for house prices and rentals.
Unlike the other downturn capital city, Perth, there are as yet no signs of recovery for Darwin.
The Darwin market downturn has coincided with the end of the resources investment boom and the consequent decline in the Northern Territory economy. As a result, jobs creation and population growth has suffered.
This inevitably has fed through to Darwin real estate, with sales activity falling away dramatically. In Darwin City, residential sales totalled between 435 and 565 in every quarter of 2014 and 2015. But in 2017, quarterly sales been regularly below 330. 
In the apartment market, the rate of sale in 2014 and 2015 was well over 200 sales per quarter, but in 2017 the average was less than 150 per quarter.
The slump has been even more dramatic in the Palmerston LGA adjoining Darwin City. Residential sales totalled over 1,200 in 2014 and 1,100 in 2015, but below 500 in 2017. 
Given that Palmerston is where most of the new residential suburbs have been emerging, these figures illustrate the slump in buyer demand for new homes in the Darwin market.
This has pushed down prices markedly. Virtually every suburb in the Darwin metropolitan area has recorded price decline in the past quarter, the past year and the past three years. 
Most suburbs in the Darwin region have house price levels lower than five years ago.
Examples include the suburb of Alawa, where the median house price has dropped 9% in the latest quarter, 10% in the past year and 22% in the past three years. Its median house price is now $465,000.
In Karama, the median price has dropped 6% in the past quarter, 11% in the past year and 22% in the past three years, and is now $430,000. The Moulden median house price is down 2% (quarter), 11% (12 months) and 20% (three years) to reach $310,000.
There are similarly negative results in the apartment market.
There are two exceptions to this story of decline: the upmarket suburbs of Nightcliff (median house price $770,000) and Rapid Creek ($720,000) have each recorded growth in the past quarter, year and three years - and, unlike most Darwin suburbs, have median prices higher than five years ago.
Significantly, Nightcliff and Rapid Creek show up in Hotspotting’s quarterly surveys of sales activity as suburbs with fairly consistent sales performance. This is in contrast to our overall findings, where most suburbs are classified as danger markets (which means sales activity has dropped markedly and remain well below the peak levels). 
Beyond the Darwin metropolitan area, Alice Springs continues to be the strongest market in the Territory, based on the consistency of its sales performance. It has recorded between 100 and 130 dwelling sales in most of the past 12 quarters - and lately has shown an upward trend.
The Alice house market was at its strongest in 2015 and now quarterly sales (rising from 62 to 73 to 77 to 88 house sales in the past four quarters) are approaching those levels again.
As a result, and in sharp contrast to Darwin, most suburbs in Alice Springs have shown solid growth in median house prices. Braitling, East Side, Larapinta and Gillen have all recorded growth in the past quarter, year and three years.  
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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terryryder-YECXbqmri2

Darwin sales falling away dramatically

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A home in Darwin’s inner northern suburb The Narrows has been listed for mortgagee auction.
The three-bedroom, two-bathroom home, located at <a href="https://www.realestate.com.au/property-house-nt-the+narrows-134416626">26 Bagot Road</a>, was advertised as mortgagee on realestate.com.
Set on 854sqm, the property includes the brick home, in-ground pool, carport and garden shed.
A study currently attached to the master bedroom has the potential to become a walk-in wardrobe.
The home last traded for $225,000 in 2005.
According to CoreLogic data, the median sales price for homes in <a href="/developments/the-narrows-nt-0820">The Narrows</a> is $477,500.
George Vrodos of PropertyShop has the listing.
The auction will take place on Saturday, October 24.
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j.ballantyne1990-6AQqhLzZaK

The Narrows, Darwin home set for mortgagee auction

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To echo a similar sentiment to last month’s Month in Review, the Northern Territory is the safest place in the country, according to the June Herron Todd White (HTW) residential report. 
The valuation firm suggests that in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month's HTW residential report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
"Our Chief Minister, Michael Gunner, is quotes as saying that the Northern Territory is now 'the envy of the country' and for good reason," the valuation firm sai.d 
"Firstly, only two new COVID-19 cases this month, both of whom were diagnosed while overseas and then returned home to Darwin, taking our total to 30. 
"Apart from the two recent cases who should both make a full recovery very soon, we still have no community transmission anywhere across the Northern Territory (source: Natasha Fyles, Health Minister, Northern Territory Government), a statistic championed to and throughout our community," the valuation firm said. 
On the back of this, the Northern Territory government has implemented its ground-breaking road map to the new normal (source: Secure NT) that was released on 30 April. This road map allows a slow but safe return to some normalcy across the Territory not only from a health and safety but an economic point of view.
Stage 2 was the most recent change on 15 May which saw pubs, clubs, gyms, some indoor gatherings, museums, open homes and inspections and other businesses of the like re-open, with an expected 1,500 people returning to work immediately (source: NT News). This was a welcome relief, not only as people enjoy the social interaction (from a safe distance) but also in getting the economic wheels to start turning.
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"As we start to see the easing of restrictions, how will this factor into the property market?
"In short, we are seeing a reduction in sales volumes, combined with a reduction in listings," the valuation firm said. 
The March 2020 quarter saw volumes fall by 27 per cent (source: REINT magazine), however as this data is captured pre-COVID-19, the June quarter will show a clearer picture as to the full effects of the virus and its impact.
"Commentary in the market is echoing last month’s view of a wait and see approach as we wade through the pandemic.
"With the return of open homes part of the easing of restrictions, hope remains that we may see an increase in transactions in the market," the valuation firm said. 
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One positive that has come from the virus is the rise in renovations and the associated wider reaching benefits of this, the report noted. 
A major factor in the Northern Territory has been the release of the Home Improvement Scheme. This scheme saw an initial $30 million of funding allocated to home and also business improvements where the government will give a voucher worth $4,000 if owners contribute at least $1,000 of their own money, or a voucher worth $6,000 if they contribute at least $2,000 of their own money with the idea being to get screwdriver ready projects out the door.
The scope of possible works that could be done is quite varied and only needs to be completed by someone who is a licenced trade, not related to the recipient of the grant (source: business recovery.nt.gov.au).
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The report suggests the uptake on this was enormous. Funding was pushed out to $100 million by the Northern Territory government with the idea of getting 20,000 applications and work to be undertaken over the next six to nine months, a great incentive for not only home improvements but a kick starter for trades and services.
Another great positive in this scheme is that investors can also benefit, the government making it clear from the onset that investors who own a home and are a resident in the Northern Territory could also benefit.
Speaking with local agents, renovated homes continue to draw good enquiry and with the easing of open home restrictions, this will only improve. 
Uptake of the scheme has also been varied, with homes in all areas and wide ranging price brackets taking up the opportunity to renovate and improve.
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Speaking locally, the preferred established locations are our northern suburbs, the report noted. 
Being in a tropical climate with proximity to the beach, preferences lean towards larger outdoor living areas or the added benefit of a pool.
<a href="https://www.realestate.com.au/sold/property-house-nt-anula-133034166" target="_blank">23 Yanyula Drive, Anula </a>(pictured below) is an example of a typical three- bedroom, one-bathroom home found in these, the HTW report noted. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/6/anula.jpg" alt="">
With the added benefit of a pool and larger entertaining area, this renovated home sold for $585,000.
Compare this with properties without the pool or entertaining area that are currently for sale for anywhere up to $100,000 less in some locations.
There are however some minor drawbacks of the scheme. Any property owned in a trust or company name cannot apply and if a property is owned in joint names, one grant will be applied to both owners. Some works are excluded such as solar panels and works on a do-it-yourself basis.
"While these may frustrate some owners, we see great overall benefits for this scheme, not just for economic restart but the revitalisation of property in the Northern Territory as a whole," the valuation firm said. 
"Where to from here? As said in previous reviews, the matter of COVID-19 is still very much in the wait-and-see position. The Northern Territory has been tremendous in flattening the curve and we are now beginning to see the easing of restrictions as a result of the swift action taken.
"What does that mean for the property market?If we can continue on the current trajectory, with social distancing and also avoiding the second wave, we may see confidence return much sooner than expected with local sentiment already beginning to turn." 
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Darwin property market sees benefits of the Home Improvement Scheme: HTW residential 

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Darwin homeowners and landlords are preparing for a significant surge in activity when the Northern Territory’s borders reopen in July, according to Glenn Grantham, the general manager of Raine &amp; Horne Darwin. 
“Even before the border announcement this week, we received six rapid-fire bookings for a holiday rental apartment in the Darwin CBD,” Mr Grantham said.
“Typically, at this time of year, this penthouse apartment in the stunning Oasis building books for weekends only. The six bookings are for weeklong stints.
“All six bookings have been made by southern state holidaymakers, who are seeking a winter getaway.
“With international borders currently closed, Darwin fits the bill perfectly for tourists. However, holiday accommodation will be tight.”
Darwin has a vacancy of 2%, the city’s best in seven years, while the number of vacant properties available for rent is about 50% lower than June 2019, according to data from Raine &amp; Horne Darwin.
Given this major supply shortage, Mr Grantham expects some severe price pressure on Darwin’s already competitive average rental yield of 5.8% for the remainder of 2020.  
The possibility that construction work on Charles Darwin University’s CBD Campus will begin as early as July will also add to the pressure on Darwin’s tight rental market.
“This construction project will require interstate tradespeople, who will be seeking permanent rentals,” added Mr Grantham.
Mr Grantham advised that, based on personal experience, most interstate buyers generally holiday in Darwin before migrating permanently.
“With the surge in first-time visitors and based on the city’s real estate history, plenty of these tourists will make a permanent shift to Darwin.
“The ‘try before you buy’ approach will work well again for the property market as tourists will land in Darwin in the dry season, which is a beautiful time of year with average days of 32°Celsius and no humidity.
“For those vendors considering a sale, be prepared for an influx of interstate purchasers between now and September,” Mr Grantham advised. 
The border is scheduled to reopen on July 17 of this year.
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NT border reopening to drive demand for Darwin property

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Property market values in Darwin have proven extremely resilient over the last three months, according to CoreLogic.   
“It is very encouraging Darwin’s property values are up nearly 2.5% over the last quarter. But realistically, the only way is up when the market has been skating along the bottom,” advised Glenn Grantham, general manager, Raine &amp; Horne Darwin. 
He noted volumes are significantly smaller than other capitals.
"One or two major transactions can impact median values in Darwin.
"Also, some of these contracts exchanged before lockdown restrictions applied.” 
Grantham continued, “Due to COVID-19, there is a shortage of listings in Darwin, which is helping to support values.”
On the demand side, Grantham says the Northern Territory’s low infection rate of 0.4% has caught the eye of interstate investors and downsizers.  
“Buying enquiries from interstate are much higher than earlier in 2020, but with our borders still closed, local owner-occupiers are dominating our sales transactions.”
Grantham said the most popular property in May was an elevated, three-bedroom house at <a href="https://www.raineandhorne.com.au/darwin/properties/21-graham-street-stuart-park-820-northern-territory" target="_blank">21 Graham Street, Stuart Park</a> (pictured below), which is on the market for offers over $590,000.   
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/25/stuart%20park.jpg" alt="">
“We’re negotiating with three buyers, while 25 groups viewed the property by way of individual appointments in accordance with COVID-19 protocols.  
Border closures are impacting contract negotiations, advised Grantham.
“We have an owner of a two-bedroom apartment in Parap, who hasn’t yet been able to make it back across the border to pack up his home.
“Once the owner returns to Darwin, he then has to self-isolate for two weeks in the apartment. 
The sticking point for the buyer is the settlement date, which depends on the vendor negotiating with border control to let him back into the Territory. We are still waiting to see how this plays out.”
The capital city’s investment markets are also holding steady with median yields at 6% and vacancy rates at 4%, according to Grantham. 
“With restrictions in place, people can’t move away from Darwin, and this situation is keeping our rental market steady. 
“Likewise, JobKeeper has helped significantly ensuring we’ve had minimal hardship requests from tenants.”
Raine &amp; Horne Darwin found a buyer for a house at <a href="https://www.realestate.com.au/property/80-francesca-cct-virginia-nt-0822" target="_blank">80 Francesca Circuit Humpty Doo</a> off-market in just three days last month. 
“The five-acre rural property is under contract for a price in the $500,000s, which was spot on our expectations,” Mr Grantham said. 
“We have been selling eight to ten properties a month at this time of year in recent times. 
“With values relatively stable and sales continuing to tick over, property markets in the Northern Territory seem relatively steady against the effects of the pandemic.” 
Interstate buyers are still a significant factor in sales enquiries and are taking advantage of virtual technologies to conduct property inspections, Mr Grantham noted.
“Virtual inspection technologies are assisting the marketing of 80 per cent of sales listings and 95 per cent of our rental stock.”
Darwin’s rental market metrics are also steady with vacancy rates of four per cent the same as earlier in 2020.
Although Mr Grantham noted COVID-19 has directly impacted the rental market.
“We have recorded a 50 per cent reduction in new tenancies because border closures have kept interstate workers who usually move here for work at home.”
However, a 50 per cent reduction in tenant vacates has offset the fall in new tenancies.  
Mr Grantham says rental arrears have only increased marginally from six to seven per cent in April.
“Also, only three per cent of our tenants have made hardship applications seeking rental reductions.
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COVID-19 safe keeps Darwin real estate intact

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<div>The greater Darwin residential market, like other cities, faces many influences and drivers of market sentiment and ultimately price movement, according to a recent Herron Todd White (HTW) residential report. </div>
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<div>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said. </div>
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To begin, and more prominent for all regions and sectors of Australia, is the impending economic fallout from COVID-19 or Coronavirus.
"Without taking away from the seriousness and current health implications of this, we see the wider economic fallout from this virus having a much wider reaching and larger impact on our property market and all markets in general.
"Without sounding too negative, sentiment will take a battering in the short term, with the long term implications still unknown at this stage. Uncertain times ahead!" the valuation firm said. 
Secondly, and most applicable to Territory markets, is population growth, the report noted. The growth or more correctly, lack thereof, has a very big say in how our local market will go. 
As noted in previous Month in Review issues, Darwin and the wider Territory’s population has been either steady or in decline over the past two to three years, where all other states experienced growth. 
Unfortunately not only does this create a smaller pool of buyers, but local community sentiment takes a hit. While the reduced population number is small, it’s not an increase. People and businesses see this as a negative.
"While we see the long term (two years plus) outlook as relatively positive due to large scale projects currently in the pipeline, this does not relieve current sentiment in the short term.
"Ultimately this leads to a reduction in prices across all sectors of the Darwin property market. We currently have the lowest median house price at $460,065 as at December 2019 (source: REINT) of any capital city and a big reason is due to lack of growth in our population," the valuation firm said. 
A four bedroom house in Darwin's northern suburb Leanyer is currently on the market with $469,000 hopes. 
The <a href="https://www.realestate.com.au/property-house-nt-leanyer-133068594" target="_blank">2 Ridgehaven Circuit</a> home (pictured below) comes with two bathrooms, family room, kitchen with electric cooking and double carport. 
It also features covered patio area, in ground pool and garden shed. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/25/leanyer.jpg" alt="">
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The cash rate sits at 0.25 percent (as of 19 March 2020), the lowest in history for our country and with the impending effects of Coronavirus, is widely tipped to reduce further.
"We saw an uplift in sales volumes for the December quarter with 33.3 percent for dwellings sales across Darwin overall (source: REINT) yet no change, or zero percent in total dollar sales volumes for the quarter. 
"What this is telling us is that the Territory market looks to be turning with regard to volume and we see this trend as likely to continue with lower median home values showing why we can have an uplift of one-third in sales volumes yet no increase in overall value.
"We see this as a shining light and hopefully a shift in market sentiment that will continue," the valuation firm commented.
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A driver of the increased volumes is also the investor market. Corelogic’s March 2020 report shows Darwin as having the strongest gross residential yields of all capital cities at 5.9 percent.
 Whilst most owners are experiencing low or no capital growth, they are underpinned by positively geared assets, a great incentive for those looking to get into the market or avoid the low yields of other capital cities. 
With the financial market and stock exchange facing volatility, bricks and mortar is likely to offer more security to investors.
It is hard to look past the current situation of COVID-19. This is causing a raft of issues that will have wider reaching implications for the Territory, the report noted. 
Tourism is something that coming into the peak dry season (southern winter months) allows local businesses to really thrive on the back of warm weather. With the recent travel bans, lack of domestic travel and social distancing concerns, it is hard to imagine the local sentiment garnering any positivity.
The Northern Territory government is delivering a $65 million Jobs Rescue and Recovery Package (source: https://business.nt.gov.au/recovery) stimulus for Territorians that will ease some pain in the short term however with business looking into a lean few weeks and months ahead, the outlook is not great. 
"We see this as having a direct impact on local property markets, particularly commercial, as tenants and businesses feel this pinch. The positive upside is for the residential market where home renovations can be carried out and largely funded by the government," the valuation firm said. 
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Speaking locally with agents and reflecting on sale data, we are seeing the uptake in sales volumes being driven by first home buyers, reflecting the Commonwealth Government’s guarantor loan scheme where first home buyers can buy properties up to $375,000. 
"We are seeing properties of value with the most activity, with 54% of sales occurring at a price below $350,000 in the inner Darwin unit market," the valuation firm said. 
The inner Darwin unit market has shown a 4.4 percent increase on the December quarter and 13.1 percent on the year in recorded sales volumes (source: REINT).
A waterfront apartment in Darwin City has recently been sold for $402,000.
The <a href="https://www.realestate.com.au/sold/property-unit-nt-darwin+city-133424434" target="_blank">5005/5 Anchorage Court </a>home (pictured below) comprises two bedrooms, two bathrooms, open plan living and dining room and private patio. 
It also features internal laundry, two basement car parks and complex swimming pool.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/25/darwin%20city%201.jpg" alt="">
Local commentary around is showing an increase in the younger professional market and first home buyers keen to take advantage of the great schemes on offer. 
"As we continue to ride out the economic impact of the current global economic situation, we believe that this sentiment will continue for our first home buyers throughout 2020,: the valuation firm stated. 
All external issues aside, one factor of the market that we continue to rely on is the strength of the coastal northern suburbs market which continues to buck the trend and ride out outside factors. This is evident with a 61 percent increase in sales volumes for dwellings on the quarter and an increase in median value of 0.4 percent. 
This is not directly attributed to falling prices or cheaper properties, with 33 percent of these properties having a value of more than $600,000. While these are well off the peak of the market, to echo the earlier point, if there is volume first, higher values will come second when an economy begins to turn.
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"Generally speaking, wide sweeping societal changes are coming and some are now in force with the key element being the current Coronavirus pandemic. This is tipped to have a huge impact on the wider economy with the brunt of this yet to be felt. However, we are yet to see any direct impact locally here in the property market, although it is early days. 
"Historically, when a stock market crashes we see an asset such as a home being far more illiquid than shares, not to mention that people will always need a place to live. So while we may see fewer transactions in the market, locally the property values may remain insulated from such losses, but this remains to be seen." 
<div>Note regards COVID-19</div>
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This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks. 
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<div>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</div>
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Darwin property market yet to see direct impact of COVID-19 pandemic: HTW residential 

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2020 is shaping up to be a continuation of the previous tough few years for the Darwin residential property market with a number of factors still contributing to the current financial position of the Territory, according to a recent Herron Todd White (HTW) residential report. 
The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas.
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The report notes with some long-term projects getting the green light and more in discussion, the flow on effect will not be seen in 2020 and sentiment will continue to remain weak across the residential market and wider economy in general.
With the completion of the construction phase of the Ichthys Gas project and remaining construction workers now onto the next project, the focus shifts to what is next for Darwin and the Territory overall, as new projects are needed.
 The $200 million CBD revitalisation including the newly announced CDU campus is well underway. 
"It is hoped that with a more vibrant city as well as more bodies on the ground, will have a flow on effect for businesses and therefore uptake in CBD dwellings. This will have a direct positive impact on the residential unit market, with increased demand for rental accommodation in the CBD," the valuation firm said. 
A two bedroom apartment in Darwin City has recently been sold for $390,000 (pictured below).
The near new apartment at <a href="https://www.realestate.com.au/sold/property-apartment-nt-darwin+city-124636170" target="_blank">P01/16 Harvey Street</a> comes with living and dining area, wrap around verandah and centrepiece kitchen. 
The complex features lifestyle facilities including resort style pool, gymnasium and children's play area. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/16/darwin%20city.jpg" alt="">
Further projects such as the announcement of the $400 million ship lift facility, the $1.05 billion Todd Gold mine construction, $200 million Westin Hotel project, the $1.45 billion project Sea Dragon prawn farm and the longer term $20 billion sun cable project in Tenant Creek due to commence in 2023 that will supply 20 percent of Singapore’s electricity.
"While these are positive announcements and major drivers of the economy long term, it is difficult to see an immediate positive impact in 2020 on the residential property space," the valuation firm said. 
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"Looking at sales figures across 2019 it becomes clear that while sales volume appears to have increased particularly through the back end of the year, we have not seen any increase in equity and in most cases people are in a negative equity position," the valuation firm said. 
While property prices remain low it makes it more difficult for local or smaller investors to re-enter the market and add to their portfolio. The REINT have reported that median house price as at the end of Sept 2019 of $460,000 is in line with 2009 prices, while median unit prices for greater Darwin of $294,000 is in line with March 2007.
A single level family home in Woodroffe (pictured below) is currently on the market with a price guide of $452,000.
The four bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/property-house-nt-woodroffe-132863710" target="_blank">38 Baldwin Drive</a>. 
It comes with L-shaped living-dining area, centre kitchen, and alfresco patio overlooking lawns and in-ground pool.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/16/woodroffe.jpg" alt="">
"Looking into the Crystal ball for 2020, we see the most action in the residential market will be first home owners. As prices continue to soften and in conjunction with the newly released First Home owner deposit scheme, we believe that some of the saturated unit market will be absorbed by first home owners and entry level homes due to the low price point. 
"This Federal Government scheme, which allows a purchase for Territory dwellings of up to $375,000 with a five per cent deposit, should take some of the lower price point stock off the market," the valuation firm said. 
The report notes the grants on offer certainly are not limited to first home owners.
"Currently in the territory we have on offer, a $20,000 build bonus scheme if buying or building a new home from February 2019, limited to the first 600 applicants, a first home owner grant of $10,000 on new homes, Territory home owner discount, with up to $18,500 off stamp duty on the purchase of either a new or existing home for new home owners in the Territory and finally a $10,000 home renovation grant if buying your first home is an existing dwelling," the valuation firm added. 
Only 200 of the 600 build bonus applications have been exhausted so there remains a strong stimulus to still be seen in the market.
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"It’s not all doom and gloom! Darwin presents great opportunity for the investor market with the highest yields for any capital city in the country. 
"Investors can typically expect a gross return of over five per cent across both units and dwellings and with the lowest median house prices in the country at year end 2019, the entry into the property market is easier and in most cases a positively geared asset," the valuation firm concluded.
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Darwin property market expected remain weak in 2020: HTW residential 

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Darwin City Council installed a network of hundreds of new devices across the centre of the city last year. This web of “smart” lights, environmental sensors and video cameras is designed to give the council more power to monitor and manage urban places – and the people who occupy them.
The council says the A$10 million “<a href="https://www.darwin.nt.gov.au/council/transforming-darwin/key-projects/switchingondarwin" target="_blank">Switching on Darwin</a>” project is “delivering smart technology to encourage innovative solutions and enhance community life”. We argue it is better seen as a project of surveillance and control, which is embedded in a long history of settler-colonial urbanism.
Intensified surveillance
Journalists and <a href="https://www.facebook.com/events/505755470028036/permalink/515375359066047/" target="_blank">community members</a> alike worried about the project. The scale and rapid rollout of the project, some argued, meant it would erode Darwinians’ privacy through intensified surveillance.
The introduction of new digital surveillance measures in Darwin poses particular concerns for already marginalised groups, as ANU sociologists Gavin Smith and Pat O’Malley have pointed out. The most affected are likely to be Aboriginal and Torres Strait Islander people, who are already disproportionately <a href="http://www.yjc.org.au/resources/YJC-STMP-Report.pdf" target="_blank">targeted</a>, <a href="https://www.griffithreview.com/articles/white-justice-black-suffering/" target="_blank">criminalised</a> and <a href="https://www.theguardian.com/australia-news/ng-interactive/2018/aug/28/deaths-inside-indigenous-australian-deaths-in-custody" target="_blank">incarcerated</a>.
The Darwin project also occurs in the context of the federal government’s plan to develop northern Australia. This development agenda has been criticised for, among other things, its <a href="https://newmatilda.com/2014/11/11/white-paper-black-australia-developing-whose-northern-australia-whom/" target="_blank">lack of interest</a> in the Indigenous people who are the traditional owners of much of the land.
Privacy concerns dismissed
Two of the chief concerns for Switching on Darwin critics were the possible use of facial recognition software and the potential involvement of Chinese tech company Huawei. Darwin’s lord mayor <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-06-13/darwin-smart-city-rollout-privacy-concerns-dismissed-lord-mayor/11203528" target="_blank">dismissed</a> criticisms as the baseless concerns of “conspiracy theorists”. He also gave advice to people worried about privacy: “don’t get a licence, give away your credit cards, and get out of Facebook”.
Compared with the <a href="https://www.propertyobserver.com.au/https://journals.sagepub.com/doi/abs/10.1177/0162243918806061" target="_blank">slick sales pitch</a> that usually accompanies smart city projects, the lord mayor’s blunt approach is more like the strident accusations of “fake news” that are now common in political discourse.
The logic of ‘smart cities’
But if we dig a little deeper, the lord mayor’s comments reveal a set of assumptions about “smart cities” that animate conversations about how cities should work in Australia.
First, that digital technologies – typically in the form of solutions and services bought from companies outside government – are a necessary part of <a href="https://www.infrastructure.gov.au/cities/city-deals/darwin/" target="_blank">“vibrant” and “liveable”</a> <a href="http://www.choosebrisbane.com.au/2022plan" target="_blank">“world cities”</a>.
Second, that privacy and surveillance issues are unfortunate byproducts of technological progress, but are outweighed by their benefits.
And finally, that technologies are straightforward non-political ways to change cities.
For governments and corporations, the vision of the smart city means a generic “public” enjoys more convenience, planners enjoys more information and efficiency, and politicians enjoy more growth and security. It’s an enticing vision, but it is built on faulty assumptions.
This vision assumes smart systems are simply a matter of technocratic management or corporate outsourcing and focuses on the supposedly unprecedented “disruption” of emerging technologies. In doing this, it overlooks important connections between the operations of smart urbanism and much older practices of colonial control.
Smart urban systems function in remarkably similar ways, for similar purposes and with similar outcomes. For example, the high-tech, data-driven systems that police now use to identify and assess people, like the New South Wales Police Force’s Suspect Targeting Management Plan, <a href="https://rlc.org.au/article/policing-young-people-nsw-study-suspect-targeting-management-plan" target="_blank">disproportionately target</a> the same exact marginalised groups who have always been subjected to over-policing – in this case young and/or Aboriginal people. But now these decisions can be hidden and justified by algorithmic analysis.
Existing power dynamics and structural inequalities cannot be erased by installing some new digital systems and declaring that the future city has arrived. Instead, the new systems can make these dynamics harder to see and at the same time entrench them more deeply.
Captured cities
In practice, the smart city is very different from the vision. It is better understood as the <a href="https://reallifemag.com/the-captured-city/" target="_blank">captured city</a>.
As a model for urban governance, the captured city takes the capabilities offered by smart systems and puts them to work in surveillance and control. Often this includes importing tools and ideas from military intelligence into police departments, and extending methods of colonial control – such as <a href="https://www.themonthly.com.au/today/amy-mcquire/2017/21/2017/1487653645/please-hold" target="_blank">welfare restrictions in Aboriginal communities</a> – to the population at large.
The city and its inhabitants are thus “captured”, both by surveillance that collects data and by authorities who control territory.
What happens to the captured city then will be shaped by the context in which the smart urban systems are deployed.
There is no reason to believe things will be different now because the boosters of smart urbanism drop a few buzzwords and make some lofty promises. Indeed, these technologies equip the state with even better tools to monitor and control its population – often by design. We’ve heard it all before, every time a tech executive or venture capitalist makes promises to fulfil the techno-utopian dream of disruption.
Darwin is not alone
Darwin is well on its way to becoming a captured city, but it is not alone. As all levels of government across Australia seek smarter ways of governing, examples of similar urban technologies being used in policing and control are springing up around the country.
These projects include a police scheme to target people who they believe may commit crimes in future in Sydney (which <a href="https://rlc.org.au/article/policing-young-people-nsw-study-suspect-targeting-management-plan" target="_blank">disproportionately affects Aboriginal people</a>), “<a href="https://westender.com.au/wordpress/wp-content/uploads/2019/05/WETA-CPTED-Study.pdf" target="_blank">Crime Prevention Through Environmental Design</a>” guidelines in Brisbane and <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-06-08/city-of-perth-rolls-out-new-facial-recognition-cctv-cameras/11147780" target="_blank">facial recognition systems</a> in Perth.
These examples demonstrate how the perceived neutrality of smart city technology uses stories about progress, modernity and innovation to entrench and disguise existing urban injustices.
Ultimately, the “smart city” in Australia is best understood not as a break with older, analogue modes of governing urban space, but as a continuation of the settler-colonial project of <a href="http://radioskidrow.org/projects/survival-guide" target="_blank">displacement, enclosure and control</a>.<img src="https://counter.theconversation.com/content/127118/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
<a href="https://theconversation.com/profiles/jathan-sadowski-887412" target="_blank">Jathan Sadowski</a>, Research Fellow in the Emerging Technologies Research Lab, <a href="https://theconversation.com/institutions/monash-university-1065" target="_blank">Monash University</a>; <a href="https://theconversation.com/profiles/anna-carlson-911286" target="_blank">Anna Carlson</a>, Researcher, School of Political Science &amp; International Studies, <a href="https://theconversation.com/institutions/the-university-of-queensland-805" target="_blank">The University of Queensland</a>, and <a href="https://theconversation.com/profiles/natalie-osborne-282804" target="_blank">Natalie Osborne</a>, Lecturer, School of Environment and Science, <a href="https://theconversation.com/institutions/griffith-university-828" target="_blank">Griffith University</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the original<a href="https://theconversation.com/darwins-smart-city-project-is-about-surveillance-and-control-127118" target="_blank"> article</a>.
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Darwin's smart city project is about surveillance and control

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The wandering eye for grandeur and a prestige address in the greater Darwin area leads in one of two directions – water views or acreage, according to a recent Herron Todd White (HTW) residential report. 
The report suggests long held premium locations of Larrakeyah, Cullen Bay, Fannie Bay and Bayview remain the sought-after water locations with ocean or marina views.
Coming into more prominence are tightly held pockets of Nightcliff that offer Casuarina foreshore views and sections of Stuart Park that overlook Frances Bay and the CBD.
"Knuckey Lagoon still presents as the premium rural residential location of the Darwin market," the valuation firm said. 
"Nearby access to all urban infrastructures balanced with space and country feel are the drivers in this location."
There have been 19 residential sales at arm’s length above $1 million in the 2019 calendar year (to mid-October) for the Darwin, Palmerston and rural residential areas, including a mix of dwelling and strata sales, so a fraction under two per month.
The report notes the market for prestige dwellings in Darwin’s inner suburbs has softened over recent times.
This market has been less volatile than mortgage belt locations and continues to be underpinned by proximity to the CBD and standard of dwelling.
Large allotments and tropical style dwellings have remained popular for purchasers. Without question the ability for owners to hold property in poorer market times has helped these market sections.
"We must highlight that this segment of the market has not been quarantined from the reductions in the wider market; re-sales of the same dwelling have shown reductions in the order of 10 to 15%," the valuation firm said. 
The Darwin prestige market beyond $2 million has been very thinly traded in recent years.
The most activity in the market has been for new builds, where older dwellings have been purchased and demolished.
Notable locations for these projects have included East Point Road in Fannie Bay, Larrakeyah Terrace in Larrakeyah and to the marina in Cullen Bay.
Many of these projects have exceeded land and build of $5 million.
"These projects, while not sale transactions, provide open market evidence to the activity in this market segment and we specifically note this is not uncommon within the local market place which is dominated by owner-occupiers in a very tightly held market segment," the valuation firm said. 
The highest residential sale in the rural residential market this year was achieved in Knuckey Lagoon, an acreage allotment with a number of dwellings and sheds that exceeded $4 million.
The highest strata sale in the Darwin area was for one of the colonial style, stone townhouses at <a href="https://www.realestate.com.au/sold/property-villa-nt-darwin+city-130487262" target="_blank">1/78 Esplanade </a>(pictured below) in the CBD.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/78%20esplanade.jpg" alt="">
The sale was negotiated by Seth Chin of Chin &amp; Associates at $2.3 million in April following an open marketing campaign.
Chin said: "The market in Cullen Bay has been active with enquiry levels remaining consistent from local owner-occupiers. With a number of our key listings ranging from $2 million to $3 million we have seen a significant amount of inspections, however given the price point and current broader market conditions these properties require extended marketing periods."
The HTW report also looked at other eye-catching properties on the market. 
"For those looking at inner city living, there are penthouse units available at Evolution, arguably one of Darwin’s best CBD addresses, with extensive common areas and views that capture the whole CBD. Asking prices are $3.5 million with David Booth Real Estate," the valuation firm said. 
Other attractive listings are located on the Marina and Sea Wall at Cullen Bay, including<a href="https://www.realestate.com.au/property-house-nt-cullen+bay-131914310" target="_blank"> 104 Cullen Bay Crescent</a> (pictured below) with Pacific Property seeking offers over $2.95 million, offering uninterrupted sea views and a large, five-bedroom, three-bathroom dwelling.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/104%20cullen%20bay.jpg" alt="">
"It’s certainly not all doom and gloom in the Darwin market. High quality property is still changing hands and premium builders and architects have projects on the drawing board as we see the shape of the prestige market move to modern homes mixed with the essential tropical touch of our neighbourhood," the valuation firm concluded. 
"Without doubt, there will be more to talk about in 2020 as the Darwin market continues to recover and transition to the next stage of the cycle."
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