The home at 28 Graham St, Stuart Park, sold for $880,000 in February 2025. Picture: realestate.com.au
Darwin home prices lifted in February with new PropTrack data revealing increases across both the house and unit markets.
The PropTrack Home Price Index showed Darwin dwelling prices rose 0.33 per cent in February to hit a new peak of $509,000.
This was 2.57 per cent higher than February 2024.
The average cost of a Darwin house was up 0.3 per cent month-on-month last month and up 3.12 per cent in the past 12 months to $581,000.
The median unit price increased 0.41 per cent in February to $381,000, helping push the annual change to 1.03 per cent.
The home at 21 Gardenia St, Nightcliff, sold for $777,000 in February 2025. Picture: realestate.com.au
The report showed regional NT was one of only three markets to see prices fall in February.
The median home price in regional NT dropped 0.04 per cent in February to $410,000 and was sitting 2.74 per cent below the most recent peak.
However home prices were still up 2.86 per cent year-on-year.
House prices in regional NT also dropped 0.04 per cent in February to a median of $449,000 but were up 3.45 per cent compared to February 2024.
The median unit price was down 0.01 per cent month-on-month and down 1.72 per cent year-on-year to $309,000.
Since the pandemic onset in March 2020, home prices increased 30.4 per cent in Darwin and 12.2 per cent in regional NT.
REA Group senior economist, Eleanor Creagh said nationally, home prices rebounded as interest rates fell in February, reversing the soft start to the year.
The median Australian home price increased 0.4 per cent in February and 3.94 per cent in the past 12 months to a new peak of $794,000.
The median home price was up 0.67 per cent in Melbourne last month to $774,000, 0.5 per cent in Sydney to $1.094m, 0.33 per cent in Adelaide to $793,000 and 0.29 per cent in Brisbane to $870,000.
REA Group senior economist, Eleanor Creagh. Picture: Supplied
“Market sentiment has improved now that interest rates have started to move lower,” Ms Creagh said.
“The prospect of rate cuts had already buoyed sentiment, with clearance rates strengthening in every capital city in early February compared to the final months of 2024.”
Ms Creagh said the rate cut boosted borrowing capacities while improved affordability and buyer confidence had driven renewed demand and price growth, reversing the falls of recent months.
“Beyond interest rates, structural factors underpinning home prices remain at play,” she said.
“Population growth remains elevated, though has begun to moderate, and a chronic shortage of new homes remains.
“Looking ahead, prices are expected to continue lifting and interest rates are expected to fall further.
“However, poor affordability will likely dampen the uplift in prices compared to prior easing cycles, resulting in the pace of home price growth trailing the strong performance of recent years.”
English (US) · 