Not where you think.
Now sure, celebs are flocking to the beautiful Coastal Town of Byron Bay, driving up housing prices beyond what locals can now afford, but in fact it’s a little more north.
In fact, far, far north. Darwin has been named the most attractive place to live in Australia.
Darwin was once known as the only city in Australia where the locals prefer to talk about the footy, fishing or the latest croc story instead of property, but the tables have since turned.
Chris Clarke of Real Estate Central NT says that “now at every dinner party, every bar and every coffee shop, the stunning house prices in Darwin’s Housing Market is the subject on everyone’s lips” and “well it is pretty incredible.”
“And now Darwin seems to have become the most attractive place to live in Australia” Clarke said.
But why?
Well Darwin has been flooded by people migrating north from Victoria, New South Wales, Queensland and Adelaide, coming to settle in the territory that’s been virtually untouched by Covid-19.
Well known for it’s tropically warm weather, relaxed lifestyle and as the nation’s least populated capital, it has even more post-pandemic charm.
“There’s no pandemic, its tropical, and it’s great for kids. There’s also much more space, and housing prices are a lot more affordable than in Melbourne. And it’s only a four-hour flight, you could easily spend four hours in a car to go somewhere so it’s the best of both worlds.”
And with the demand for property increasing, investors are now considering Darwin as a great entry point with excellent growth potential, great returns and a low vacancy rate.
Over the quarter to the end of March 2021, on Domain Group Figures, house prices in Darwin rose by 9.1%, second nationally only to Canberra with 9.7%.
It’s definitely an area to keep your eyes on, and we here at JR Prosperity are always on the lookout for the best deals for our clients.
