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Real Estate Institute of Northern Territory….

By Korgan Hucent

Real Estate Institute of Northern Territory (REINT) have just released the latest sales and rental statistics for Darwin, Palmerston and Rural.

For the full report, please click on the below link;

https://www.reint.com.au/images/doc/2016/relm_june2016_final.pdf

Here is a snapshot for rentals in Darwin and Palmerston overall;

Average rental Price for Darwin Overall (includes Darwin, Northern Suburbs and Palmerston);

Houses: $515pw – 15.8% decrease since 12 months ago (June 2015)
Units: $390pw – 12.9% decrease since 12 months ago (June 2015)
Overall Vacancy Rates;
Darwin (including Northern Suburbs): 6.4% (Houses 6.3%, Units 6.4%)
Palmerston: 6.9% (Houses 6.3%, Units 8%)
Rural: 8.5% (Houses 8.9%, Units 5.9%)
Ray White Bayside property management team successfully leased 33 properties in Darwin and Palmerston in July, despite these challenging market conditions. Our office vacancy rate currently stands at 5.5% compared to the Industry average of 7.3%.
We achieve excellent results for our Darwin Landlords by constantly researching the market, offering standout marketing options and regular communication regarding rental enquiry, inspections and feedback from potential tenants. Our rentals team here in Darwin WORK HARD for our landlords to achieve the best possible outcome.
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