Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

Darwin

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Demand for Darwin rental properties is booming, according to Raine &amp; Horne Darwin.
The agency said that the Darwin rental market is still above the 2% vacancy rate sweet spot achieved a few years ago, with vacancies running at more than 7%.
Rental days-on-market have fallen to an average of about 32 days in Darwin, according to Glenn Grantham, general manager, Raine &amp; Horne Darwin.
"Rental yields for Darwin houses have improved and are currently 5.1%, which is the highest in Australia,” he said.
Grantham said that the keys to securing a tenant in the Darwin market are presentation and sensible pricing.
“Vacancies are headed in the right direction, which is a good sign, however its means investors shouldn’t be complacent.”
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j.ballantyne1990-6AQqhLzZaK

Darwin rentals in hot demand: Raine & Horne

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Darwin is the slowest capital city to sell a property, according to CoreLogic’s latest report.
The property data firm says that the average time to sell a unit in Darwin is 113 days while a house can expect to sit on the market for 92 days.
Unsurprisingly, the city also has the nation's highest average vendor discount of 8.6% for units. Houses fair slightly better, requiring a 5.8% discount - lower than Perth's nation-leading 7.1%.
<a href="https://www.propertyobserver.com.au/images/2017/03/20/Screen%20Shot%202017-03-20%20at%201.05.15%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/20/Screen%20Shot%202017-03-20%20at%201.05.15%20pm.jpg" alt="">
This is in contrast to Sydney where it has the shortest time to sell a property.
It takes around a month for a house or a unit to be sold in Sydney.
A two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nt-moulden-124708102" target="_blank">2/2 Orchid Court</a>, Moulden (above) was sold for $212,000.
Similarly, a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nt-muirhead-122012830" target="_blank">17 Hargrave Street</a>, Muirhead (below) was sold for $615,000.
<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/2017/03/23/17%20Hargrave%20Street.jpg" alt="">
Average vendor discounting for units in the Harbour City is also the equal lowest, at 3.8%, but it is the nation's capital, Canberra, which matches it for units and leads the way for houses (2.5%).
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Darwin the slowest capital to sell a property: CoreLogic

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Darwin takes the longest time to sell a property, according to CoreLogic’s latest report.
The property data firm says that the average time it takes to sell a house in Darwin is 107 days.
This is in contrast with Sydney which takes only 29 days to sell a house.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%2012.40.07%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/27/Screen%20Shot%202017-02-27%20at%2012.40.07%20pm.jpg" alt="">
Similarly units in Darwin takes 111 days to sell compared to 26 days for Sydney units.
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Properties in Darwin takes the most time to sell: CoreLogic

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Infrastructure projects are what have brought about spikes in the Darwin property market, according to HTW’s February 2017 update.
While the valuation firm says there isn’t a new large project which is likely to kick start the market, there are a number of smaller projects from the new Territory government, the Commonwealth government and from private enterprise that will simmer the market along.
“Defence projects in Darwin and Tindal, Palmerston Hospital, large retail centres and the Darwin Port with Landbridge will be some of the drivers in the local economy that will flow through to the residential space,” the report says.
“Jobs and employment always encourage residential investment in the Top End.
“We think that Karama and Malak are shaping as two hotspots for 2017.
“Entry level housing in these two northern suburbs is back under $400,000.
“We think that this is an excellent option for first home owners or upgraders coming out of a unit.
“While the property will require some work, it is an affordable alternative to a brand new home in competing suburbs, and whilst we as a society have turned to the brand new, shiny and hottest new thing there is something to be admired about starting with a smaller family project and slowly building from there.”
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nt-karama-124464894" target="_blank">44 Wearing Crescent</a>, Karama (above) has been listed for $425,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-nt-karama-123449526" target="_blank">34 Livistona Road</a>, Karama (below) has been listed for $399,500.
<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/2017/02/22/34%20Livistona%20Road-1.jpg" alt="">
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jonathanchancellor-7SQnKwU6yx

HTW's top Darwin property hotspots for 2017

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The residential property market in the greater Darwin region experienced a fairly difficult 2016 and there is not much to suggest a strong 2017 lies ahead, according to HTW’s February 2017 update.
The firms overall evaluation of the Darwin residential property market for the year ahead is that it will be a settling year lacking any great drivers for growth.
However, this may open up opportunities for investors and first time buyers.
“With interest rates at record lows it appears a good opportunity to tidy up an existing portfolio or enter the market for the first time,” HTW says.
The valuation firm says there are some early signs of a recovery may be underway that may make it a shrewd target for investors.
Sales volumes are starting to flow back into the market, construction levels of new apartments has eased, land supply appears to be slowing and rental and vacancy rates appear to have stabilised, the report says.
“Increased sales volumes and buyer activity have been seen through the established locations of the northern suburbs and Palmerston, along with entry level inner suburban locations in the final months of 2016.
“With stamp duty exemptions and FHOG introduced across all property types, we would expect this to continue through the early stages of 2017.”
This year also looks as though it will be a quiet year in comparison to the past decade for the Darwin CBD, HTW warns.
“As at early February 2017 there are a limited number of cranes in the CBD, with a very small number of projects in the construction pipeline.
“This will continue to stabilise the rental market by not dumping further supply into a relatively soft market.
“For the first time in a few years it will give the CBD an opportunity to have a breather and consolidate.”
A two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nt-darwin+city-124636170" target="_blank">P01/16 Harvey Street</a>, Darwin City (above) has been listed for $530,000.
Similarly a three bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nt-darwin+city-124703602" target="_blank">129/19B Kitchener Drive</a>, Darwin City (below) has been listed for $799,000.
<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/2017/02/22/129_19B%20Kitchener%20Drive.jpg" alt="">
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Darwin market conditions favouring first time buyers: HTW

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Over the September 2016 quarter, 26.4 percent of  Darwin houses and 41.0 percent of Darwin units resold  for less than their previous purchase price, according to CoreLogic’s latest Pain and Gain report.
The property data firm says that the instances of loss-making resales have continued  to trend higher over the quarter from their previous record-highs.
The chart below relates to Darwin only losses in houses versus units.
<a href="https://www.propertyobserver.com.au/images/2017/01/30/Corelogic-20.jpg" target="_blank">Click to enlarge</a>
<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/2017/01/30/Corelogic-20.jpg" alt="">
Across the council areas, Litchfield saw the lowest proportion of loss-making resales (17.4%) followed by: Darwin (31.7%) and Palmerston (33.9%).
<a href="https://www.propertyobserver.com.au/images/2017/01/30/Corelogic-21%20copy%202.jpg" target="_blank">Click to enlarge</a>
<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/2017/01/30/Corelogic-21%20copy%202.jpg" alt="">
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Darwin property resales at loss highest in Palmerston: CoreLogic Pain and Gain

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Darwin has a large oversupply of units relative to demand, according to Herron Todd White’s latest report.
The property advisory firm says that there has been an increasing trend in rental vacancy while the demand for new units has been very soft.
<a href="/images/2016/12/07/HTW%20-%20NT%20Units.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/07/HTW%20-%20NT%20Units.jpg" alt="">
However both the trend in new unit construction and volume of unit sales is declining.
This may be because Darwin’s unit market is declining while new properties are frequently sold at prices exceeding their potential resale value.
A recent sale at Darwin is at <a href="https://www.realestate.com.au/sold/property-apartment-nt-darwin+city-123558910" target="_blank">4/6 Foelsche Street </a>(above) which sold for $425,000.
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Large oversupply of units in Darwin: HTW

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A home in Darwin takes the longest time to sell across the capital cities, according to CoreLogic’s latest weekly report.
The property advisory firm says that the average home in Darwin can expect to take 146 days to sell.
<a href="https://www.realestate.com.au/property-house-nt-driver-123758086" target="_blank">A three bedroom Driver property</a> has been for sale since April. It has a $365,000 plus asking price. It was up for rent at $450 a week in July last year.
<a href="/images/2016/11/21/Capital%20city%20median%20time.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/21/Capital%20city%20median%20time.jpg" alt="">
This is compared to Canberra where a home will only be on the market for 24 days on average before being sold.
Units in Perth takes the longest time to sell with an average of 89 days on the market before it is sold compared to Sydney’s 27 days for a unit.
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Homes in Darwin takes 146 days to sell: CoreLogic

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The recent change of government with Labor taking hold of the reigns in the August election have improved conditions in Darwin for people trying to enter and exit the property market, according to Herron Todd White’s latest monthly market report.
The property advisory firm says that the past two years has seen Darwin’s property market continually slow with decreasing prices and lower sales volumes across the board.
First home buyers were only offered incentives for brand new properties in those two years and established properties subsequently received limited interest.
Since 1 September the market has sprung to life again as the new first home owner incentives for existing properties came into play.
First home buyers are now eligible for up to $24,000 in stamp duty concessions, with the first $500,000 of the purchase being stamp duty free and the incentive being capped at $650,000.
As many of the properties now being targeted by first home buyers will be relatively old, a further incentive of $10,000 to be utilised for renovations including up to $2,000 on household goods will further encourage people to buy existing properties. The incentive of $26,000 for building or buying a new property remains in place.
The new concessions have only been effective for three weeks and agents are reporting increased activity with numerous contracts executed in the short existence of the initiative.
"Many prospective purchasers were waiting to see the election results before making any serious offers and have been quick to take advantage of the new benefits, some fearing it might push prices back up, particularly at the entry level," the report noted.
As the incentive is capped at $650,000, all established properties on the market under that range are expected to attract more interest.
One example would be a three bedroom home at <a href="https://www.realestate.com.au/property-house-nt-darwin-122535794">20/12 Dashwood Place</a> that is for sale for $575,000.
The northern suburbs in particular will be a popular area for young buyers and all the older Palmerston suburbs should benefit also.
Herron Todd White noted how the scheme might affect the property market.
"The biggest loser from the scheme may be the already suffering new estates, as new home buyers will now shift away from building and focus on the established market. particular Zuccoli and Muirhead are the two estates with the most land left to release and project builders may have to bring their build contract prices down to compete with existing stock.
The increased activity in the market will help move properties quicker and the flow on effect will help people buy up an asset class from their existing property.
HTW still thinks there are still many negative economic factors surrounding Darwin and as the population continues to fall the basic supply and demand principles would suggest that prices won’t be drastically spiked by these new incentives.
"The greatest benefits will be more sale transactions, shorter marketing periods and more opportunities for people to enter the property market."
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Darwin property market may improve with new first home buyer scheme: HTW

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Darwin’s satellite suburb of Palmerston is poised to attract a wave of investors, who might compete with first-home buyers, due to impressive yields.
A case in point is Palmerston suburb Zuccoli.
“It’s possible to buy some land and build a three-bedroom house for $450,000 in new Palmerston suburbs such as Zuccoli,” said Glenn Grantham, general manager, Raine &amp; Horne Darwin.
The real estate firm is selling land in the Zuccoli Aspire development on behalf of Costojic, a partnership between developer Costa Property and local firm Ostojic.
“If you are a first time buyer and have a $26,000 first homeowner’s grant to spend on a new property, then Zuccoli continues to look very attractive.”
Grantham said some properties in Zuccoli can earn rents of up to $600 a week, or a healthy gross yield of 6 percent.
“Moreover, some of the builders offering house and land packages in Zuccoli have completion valuations indicating their homes would sell in the market for $530,000.”
“We have just released another 200 blocks at Zuccoli Aspire, which are selling from $135,000, and we expect investors, especially those from Sydney and Melbourne, to jostle with first home buyers in the race to snap up these very affordable blocks,” said Grantham.
 <img src="/images/2016/10/06/Zuccoli.jpg" alt="">
The return of interstate investors to markets such as Palmerston is not unexpected, according to Grantham, as Darwin’s rental yields compare favourably with other capital cities.
“Our median prices are many hundreds of thousands of dollars cheaper than Sydney and the smart interstate money is recognising there is more to Darwin than mining and resources,” he said.
“Darwin has a diverse economy that has a good spread of government businesses, as well as robust defence and tourism industries. 
He cited that visitor nights – both domestic and international – rose by 24 percent in financial year 2015/16, illustrating Darwin’s growing tourist appeal. 
“Combine the city’s growing economic diversity with real estate affordability and strong yields, and Darwin real estate will be on the radar for investors again in 2017.”
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