Darwin Housing Market: Growth & Affordability in 2024

Darwin continues to hold its place as Australia’s most affordable capital city for housing, even after a notable price surge. According to Domain’s latest House Price Report, Darwin’s median house price rose by 2.9% in the December 2024 quarter, reaching $651,771—representing a $28,000 increase over just three months. 

This growth marks the second-highest rate of quarterly house price increases among Australian capitals, outpaced only by Hobart’s 4.6% rise during the same period. Despite these gains, Darwin remains the only capital city where buyers can still find houses under $700,000, offering significant value compared to other markets.  

Domain’s Chief of Economics and Research, Dr Nicola Powell, highlights that Darwin’s long-term growth has been more modest. Since March 2020, house prices in Darwin have increased by 28%, which is comparatively lower than the growth rates of cities like Brisbane, Perth, and Adelaide, which were above 70% during the same period.  

Dr Powell explains that Darwin’s market is influenced by its transient population, similar to Canberra, with residents often relocating for work. However, recent consecutive price rises in 2024 signal a more stable trend compared to the volatility observed in previous years.  

For buyers and investors, Darwin’s market offers a unique opportunity to capitalise on affordability while benefiting from recent growth trends.  

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