City of DarwinEconomic profile
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City of Darwin

Housing valuation

At June 2018, City of Darwin had a median house valuation of $508,432, $46,551 higher than the median house valuation for Northern Territory.

Housing valuation and rental data are a measure of the economic desirability of living in the local area. High housing prices usually indicate access to high-paid jobs and a very desirable area. However they can present issues in attracting and retaining key lower skilled workers. Lower housing prices indicate less demand and may be an asset for attracting people to live in the area. However they can also indicate lower paid and lower skilled jobs or a declining economy.

Housing prices often factor in a home ownership premium due to expected capital growth and the ability to customise the property, but rental costs are a more direct measure of the immediate economic value of living in the area. Increases in rents often have a more direct relationship to employment and demand for housing.

Hometrack 2014-2018, Housing Valuation System

Housing values
City of Darwin20182014Change
Housing value (at June)City of DarwinNorthern TerritoryCity of Darwin relative to Northern TerritoryCity of DarwinNorthern TerritoryCity of Darwin relative to Northern Territory2014 to 2018
House--------------
First Quartile$445,008$381,823+16.5%$562,099$458,004+22.7%-$117,091
Median$508,432$461,881+10.1%$619,352$561,099+10.4%-$110,920
Third Quartile$658,937$584,980+12.6%$771,915$670,511+15.1%-$112,978
Unit--------------
First Quartile$299,554$286,236+4.7%$392,178$355,206+10.4%-$92,624
Median$373,682$352,199+6.1%$456,854$421,508+8.4%-$83,172
Third Quartile$470,425$446,633+5.3%$558,049$512,265+8.9%-$87,624

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, Northern Territory: $446,633 Median, Northern Territory: $352,199 First Quartile, Northern Territory: $286,236 Third Quartile, Northern Territory: $584,980 Median, Northern Territory: $461,881 First Quartile, Northern Territory: $381,823 Third Quartile, City of Darwin: $470,425 Median, City of Darwin: $373,682 First Quartile, City of Darwin: $299,554 Third Quartile, City of Darwin: $658,937 Median, City of Darwin: $508,432 First Quartile, City of Darwin: $445,008
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, Northern Territory: $-65,632 Median, Northern Territory: $-69,309 First Quartile, Northern Territory: $-68,970 Third Quartile, Northern Territory: $-85,531 Median, Northern Territory: $-99,218 First Quartile, Northern Territory: $-76,181 Third Quartile, City of Darwin: $-87,624 Median, City of Darwin: $-83,172 First Quartile, City of Darwin: $-92,624 Third Quartile, City of Darwin: $-112,978 Median, City of Darwin: $-110,920 First Quartile, City of Darwin: $-117,091
Source: Hometrack 2014-2018, Housing Valuation System

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