150 Wells Creek Rd, Virginia
The Territory’s top performing suburbs have seen home prices increase by up to 78 per cent in the past year, despite the overall market seeing little growth.
Data from PropTrack showed the median house price in Darwin increased by just 6.6 per cent in the past 12 months to $565,000 while the median unit price was up 3.2 per cent in the same time to $387,000.
However, select suburbs bucked the overall trend of stagnation with high growth found in northern suburbs, coastal pockets and rural locations.
According to the data, Virginia was at the top with house prices skyrocketing 78.2 per cent in the past year to sit at a median of $775,250.
Coming in second place was Acacia Hills where the median house price was up 55.9 per cent to $725,000.
420 Virginia Road, Virginia
Third was Girraween, with a median price of 25.6 per cent to $967,500, followed by Parap, up 17.9 per cent to $990,000, and Jingili, up 17.5 per cent to $669,500.
In the past year Virginia has seen multiple million-dollar sales, including 420 Virginia Rd, which sold for $1.91m in May, setting a new suburb record.
In June, 150 Wells Creek Rd, Virginia, sold for $1.405m and in October 2023, 305 Lowther Rd, Virginia sold for $1.175m.
Acacia Hills also new suburb records in the past 12 months with 139 Affleck Rd selling for $1.26m in April and 27 Hawks Ct selling for 1.2m in May.
In Girraween, 10 McGill Rd sold for $1.65m in June, the fourth most expensive residential sale on record for the suburb.
10 McGill Rd, Girraween
In the unit market, the frontrunner was The Gardens with the median unit price up 16.9 per cent in the past 12 months to $467,500.
In second place was Leanyer, with unit prices up 10.8 per cent to $360,000 on average, while third was Coolalinga where the median unit price was $315,000, up 8.6 per cent.
Rounding out the top five were Bayview, up 7.5 per cent to $570,000, and Brinkin, up 7.2 per cent to $370,000.
In the past year, 9/40 Gardens Hill Cres, The Gardens sold for $785,000, while in Leanyer the top unit sale of the last 12 months was 1/3 Grasslands Cres, which exchanged hands for $450,000.
TOP NT SUBURBS FOR ANNUAL VALUE GROWTH (HOUSES)
Virginia – 78.2% – $775,250
Acacia Hills – 55.9% – $725,000
Girraween – 25.6% – $967,500
Parap – 17.9% – $990,000
Jingili – 17.5% – $669,500
Berry Springs – 15.7% – $737,500
Katherine South – 15% – $333,500
Rapid Creek – 12.7% – $822,500
Alawa – 12.1% – $575,000
Nakara – 11.5% – $630,250
TOP NT SUBURBS FOR ANNUAL VALUE GROWTH (UNITS)
The Gardens – 16.9% – $467,500
Leanyer – 10.8% – $360,000
Coolalinga – 8.6% – $315,000
Coconut Grove – 7.9% – $370,000
Bayview – 7.5% – $570,000
Brinkin – 7.2% – $370,000
Larrakeyah – 5% – $420,000
East Side – 4.5% – $345,000
Fannie Bay – 3.5% – $512,500
Stuart Park – 2.9% – $445,000
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