What you need to know: September Quarter market update for 2015

We’ve recently received the latest Real Estate Local Market (RELM) report for the September quarter 2015 and we want to share the results with you.

Key figures for Darwin September quarter 2015:

- Darwin overall saw a decrease in house sale volumes by 7.9 per cent from the June quarter.

- Median house prices dropped by 0.7 percent, falling to $605,500.

- The unit and townhouse sales percentage for Darwin was also down by a whopping 44.4 per cent.

- However the recorded sales in the Northern Coastal areas of Darwin rose by 16.7 per cent, which means 42 units/townhouses were sold in the September quarter.

- Darwin median weekly rental house prices have decreased across the board during the September quarter, however Darwin North East prices have increased by 6.7 per cent for three bedroom homes ($550 per week) and 21.4 per cent for four bedroom homes ($652.50 per week).

- Darwin median weekly rental unit/townhouse prices have also decreased across the board during the September quarter, however Darwin North presented an increase of 14.3 per cent in one bedroom unit/townhouse dwellings ($400 per week) and 11.1 per cent in three bedroom unit/townhouse dwellings ($500 per week).

Key figures for Palmerston September quarter 2015:

-The Palmerston area saw an increase in house sale volumes by 2.4 per cent from the June quarter.

- Median house prices increased by 4.1 per cent, rising to $562,000.

- This indicates that a total of 85 homes were sold in the Palmerston area during the last quarter.

- The median weekly house rental price now sits at $500 (3.8 per cent decrease) for a three bedroom home and $620 (6.1 per cent decrease) for a four bedroom home.

- There was a 10.8 per cent decrease in the median weekly rental price for one bedroom units/townhouses, sitting now at a weekly median price of $232.

If you are considering buying or selling in Darwin or Palmerston in the near future, come talk to us - the professionals with extensive experience in the Darwin market.

Give us a call today on (08) 8932 8858 to talk about your next step in the market, we would love to hear from you.