The home at 17 Bald Cct, Alawa, sold for $682,000 on November 18. Picture: realestate.com.au
Darwin home prices have skyrocketed more than $75,000 in the past year, with the average cost of property hitting a new peak in November.
The latest PropTrack Home Price Index revealed the median dwelling price in Darwin increased 0.3 per cent last month to a new high of $573,000.
This was 14.1 per cent, or $75,100, higher than November 2024.
REA Group senior economist and report author, Eleanor Creagh said the annual surge made Darwin the second strongest performing market in the country.
“There’s been a very clear acceleration in the pace of growth in Darwin and a very clear turnaround in market conditions,” she said.
“We’ve seen stock on market plummeting in Darwin with home buying demand well outstripping the supply of properties listed for sale.
“Properties are selling a lot quicker than this time last year.”
The report showed the best performing market was Perth, with home prices up 15.5 per cent annually in November, followed by Darwin and then Brisbane, with the median home price up 13.7 per cent year-on-year.
Regional WA (+13.2%) and regional Queensland (+12.5%) rounded out the top five best performing markets of the past 12 months.
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REA Group senior economist, Eleanor Creagh. Picture: Supplied
Darwin house prices were also up 0.2 per cent in November and 14.1 per cent annually to a median of $653,000.
This was a difference of $87,100 compared to a year ago.
In the Darwin unit market, the median price was up 0.3 per cent month-on-month and 14.1 per cent, or $54,500, year-on-year to $441,000.
Ms Creagh said regional NT defied the national upturn in November, seeing a very modest 0.1 per cent fall in home prices.
However, regional NT home values were still up 2.1 per cent year-on-year to a median of $338,000.
Regional NT house prices also dropped 0.1 per cent in November but were up 2.3 per cent annually to a median of $372,000.
Unit prices were flat in November and up 1.3 per cent year-on-year to a median of $307,000.
Ms Creagh said nationally, home prices rose 0.5 per cent in November and were 8.7 per cent higher than a year ago, which was the fastest annual growth since mid-2022.
“Momentum has firmed throughout 2025, but stretched affordability means growth remains well below the 20-30 per cent annual gains seen in past booms,” she said.
“Lower interest rates, increased borrowing capacities, and a recovery in sentiment have underpinned this year’s reacceleration.”
The home at 3 Nandina Ct, Leanyer, sold for $750,000 on November 25. Picture: realestate.com.au
Ms Creagh said Darwin, Hobart, Melbourne, Canberra and Sydney recorded a strengthening in annual growth compared with late 2024, but while Brisbane, Adelaide and Perth continued to record strong price rises, growth was no longer accelerating relative to this time last year.
“In each of these capitals, unit growth is outperforming houses both quarterly and annually as buyers pivot toward more attainable options,” she said.
“Population inflows, a lift in investor activity, and the expanded Home Guarantee Scheme have reinforced demand, alongside this year’s series of interest rate cuts.
“At the same time, total stock on market has been tight, and the delivery of new housing remains constrained, tilting conditions toward sellers.
“These factors point to further price gains through summer.”
Ms Creagh noted monthly growth did ease across the capitals from October’s stronger pace,
“With interest rates now expected to remain on hold for an extended period, affordability constraints are likely to see price growth moderate throughout 2026,” she said.
