Raine & Horne Darwin general manager Glenn Grantham said in-house data showed properties, in particular high quality homes, were achieving sale prices as much as 30 to 35 per cent above expectations. Mr Grantham referenced the recent sale 38 Sabine Road, Millner that sold for $682,000 on November 8.
MORE TOP NEWS
Shock resignation from Mix 104.9 breakfast show
NT Health to launch COVID-19 check-in app to bolster contact tracing
NT ‘government’ prankster edits ‘McDonald’s’ to ‘McBumholes’ on web
“I appraised this property at $550,000 in November 2019,” he said. “Rather than being the death knell for real estate in Darwin in 2020 as many predicted, COVID-19 has supercharged sales and values.” Mr Grantham said the phenomenon extended across the residential market. “Better still all price points are moving,” he said.
“We just put three recently built apartments worth $340,000 in Harvey Street, Darwin on the market last week and had 18 groups through the first open homes.” Real Estate Institute of the Northern Territory chief executive Quentin Kilian said the market had experienced a remarkable transformation from the beginning of 2020 to now. “At the start of the year (the market) wasn’t quite on the life support it was on in previous years but it was still looking a little unwell,” he said. “The prognosis now is extremely healthy and getting much better.
OFFER EXTENDED: Amazing NT News subscription offer: Read everything for $1
“I’m optimistically positive but really, everything does hinge very much on what sort of population retention we get.“It’s great to have this burst of population activity but I think we would be naive to relieve we’re going to retain all of the people who’ve come up here during COVID.”
[email protected]
Twitter follow Raphaella Saroukos
Source link
