Listing numbers drop in Darwin real estate market

The acreage home at 23 Staines Ct, Girraween, is newly listed for sale for $749,000. Picture: realestate.com.au

---

The number of homes for sale in Darwin has plummeted by more than one-third in the past year despite an uptick in monthly figures.

The latest PropTrack Listings Report found the number new Darwin listings on realestate.com.au were up 21.4 per cent in May, while total listings lifted 1.4 per cent.

Despite these increases, new listings were down 35 per cent year-on-year and total listings were down 35.5 per cent.

In regional NT, new listings were up 10.8 per cent in May and 10.8 per cent in the past year.

Total listings in regional NT were down 1.4 per cent year-on-year despite a monthly increase of 2.5 per cent.

Darwin agent Darren Hunt, of Real Estate Central Projects, said the Darwin market was experiencing a definite reduction in supply, with sellers waiting for further price growth a contributing factor.

“There is a significant higher degree of awareness among Darwin residents that their properties are increasing in value,” he said.

“Darwin has been the best performing market in the country for past few months and we expect that to continue.

“We expect to see double-figure growth in Darwin market this year.

“It’s been 11 years since the previous market high and without doubt we will eclipse that.”

The apartment at 17/21 Duke St, Stuart Park, is newly listed for sale with a price guide of $515,000. Picture: realestate.com.au

---

RELATED: Darwin buyers need extra 47k to lock down a home

Darwin property surge: Australia’s most affordable capital heats up

Insane cash stars spent on their Aus homes

Mr Hunt said an increase in off-market sales to investors was also impacting listing numbers in the Territory’s capital.

“Nearly half of the properties that are being transacted are being transacted off market,” he said.

“Prospective buyers need to be in contact with agents to make sure they’re getting access to those properties.”

Mr Hunt said demand remained strong for Darwin property, especially in the $500,000 – $650,000 price bracket, where investors and first homebuyers were competing.

“You’re conventional three or four-bedroom home at that $500,000 – $650,000 price point is the sweet spot of the Darwin market,” he said.

“We’re seeing the most activity there and there’s a distinct shortage in that market.

“The properties that are available are finding numerous buyers and numerous offers, and we’re starting to see statistical evidence of price rises because of the strong demand.”

Darren Hunt of Real Estate Central Projects

---

REA senior economist, Angus Moore said the number of homes for sale across the country increased in May as market activity picked back up after the Easter and Anzac Day long weekends in April.

“Every capital city recorded month-on-month growth in new listings, with Canberra, up 24.7 per cent, and Sydney, up 21.7 per cent, leading the gains,” he said.

Nationally, new listing were up 7.6 per cent in May but down 9.7 per cent year-on-year.

Total listings saw a slight uptick of 0.1 per cent for the month, however that figure was down 1.2 per cent compared to May 2024.

“Overall, this autumn selling season recorded a 4.9 per cent annual drop in new listings compared to autumn 2024, as April and May experienced slower activity than a year ago,” Mr Moore said.

“Annually, Perth, up 3.5 per cent, and Adelaide, up 3 per cent, were the only capitals to record a rise in new listings, as every other capital saw new listings fall.”