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Darwin<\/a> is becoming the place-to be for many property investors who want to expand their portfolios, experts say.<\/p>\n Data from Raine & Horne showed that around 65% of investor inquiries in Darwin were from interstate-based buyers.<\/p>\n Raine & Horne Darwin general manager Glenn Grantham said the Northern Territory\u2019s capital is becoming a go-to destination for many investors who are now focusing away from entry-level markets.<\/p>\n \u201cIn the past, savvy investors secured entry-level properties in markets such as Palmerston and outer Darwin fringe suburbs where the yields were a major appeal,\u201d he said.<\/p>\n Mr Grantham said investors are now focusing on higher-priced markets closer to the CBDs that can still achieve yields of around 6% to 7% and are not affected by body corporate fees.<\/p>\n \u201cThe face of property investment in NT is changing with more investors focusing on upgrader markets that have traditionally attracted owner-occupiers such as Alawa<\/a>, Jingili, Moil and other suburbs north of the city,\u201d he said.<\/p>\n A four-bedroom, three-bathroom house with a granny flat at 14 Britomart Gardens Alawa was recently sold and had attracted offers of over $730,000.<\/p>\n The house is expected to rent for $860 per week, resulting in a yield of above 6% \u2014 something Mr Grantham believes is impossible to find in inner-ring suburbs in Brisbane, Canberra, Melbourne, or Sydney.<\/p>\n \u201cThe sale of 14 Britomart Gardens is illustrative of the changing face of inner Darwin real estate sales \u2014 properties that previously attracted only owner-occupier attention are now on the radar of investors,\u201d he said.<\/p>\n \u201cNot only can an investor achieve an unbelievable yield, but by buying a well-located, quality property within minutes of the city, the prospect of excellent capital growth is almost guaranteed.\u201d<\/p>\n Herron Todd White valuer Cameron McDonell said yields can still be found across different market segments in the Northern Territory.<\/p>\n \u201cWhen considering a new home, there are three new suburbs an investor can choose: Zuccoli (affordable), Northcrest (mid-range) and Lee Point\/Muirhead (premium),\u201d he said.<\/p>\n In Zuccoli, for instance, the cost of land and construction of a three-bedroom home on a 400 square metre allotment is around $550,000.<\/p>\n Rents in the area are between $620 and $650 per week, indicating a yield of up to 6.2%.<\/p>\n \u201cIn Northcrest and Muirhead, the yields will be slightly lower and even when the current low interest rates rise, it is evident how attractive such a property would be for an investor chasing higher yields not seen on the eastern seaboard,\u201d Mr McDonell said.<\/p>\n In terms of property types, Mr McDonell said the most desirable ones are affordable units, newly-built homes, and Defence Housing Authority (DHA) homes.<\/p>\n \u201cDHA is a solid investment no matter where in Australia \u2014 DHA properties are selling at 4.9% to 5% yields with nine to twelve years plus three-year options directly from DHA,\u201d he said.<\/p>\n \u201cYou will find these properties in Muirhead in the northern suburbs of Darwin. However, if you are looking for slightly higher returns you can often find a DHA property on the secondary market selling at a higher yield with a shorter lease term.\u201d<\/p>\n \u2014<\/p>\n Photo by @henriquefelix on Unsplash<\/em><\/p>\n<\/p><\/div>\n
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