The unit at 6503/7 Anchorage Ct, Darwin City, is for sale for offers over $440,000. Picture: realestate.com.au
Darwin units are outshining detached dwellings when it comes to bang for buck, with unit markets recording the top rental yields across the region.
New PropTrack data revealed the Driver unit market had the highest rental yields in Darwin at 9.75 per cent.
According to February figures, the average cost of a unit in Driver was $240,000 while the median asking rent was $450 per week.
Coming in second was Karama where the gross rental yield for a unit was 9.2 per cent based off a median sale price of $260,000 and median weekly rent of $460.
Third was Moulden with an 8.89 per cent rental yield.
Units in the Palmerston suburb sold for $257,000 and rented for $440 per week on average.
Neighbouring Gray was next with a gross rental yield of 8.71 per cent for units along with an average sale price of $270,000 and a median weekly rent of $453.
Fifth was Larrakeyah with a rental yield of 8.5 per cent, a median unit sale price of $390,000 and a median weekly rent of $638.
Rounding out the top 10 were the unit markets in Bakewell, with a rental yield of 8.35 per cent, Berrimah (8.04%), Leanyer (8.01%), Darwin City (7.96%) and Coolalinga (7.92%).
The unit at 701/29 Daly St, Darwin City, is for sale for offers over $500,000. Picture: realestate.com.au
RELATED: Where it’s cheaper to buy than rent in Darwin
House of the week: Wilderness retreat
Happy hammer time in Fannie Bay
When it came to houses, Gray offered the highest rental yield at 7.17 per cent off the back of a $410,000 median sale price and $565 median weekly rent.
Next up was Zuccoli with a 7.07 per cent rental yield, followed by Karama (6.93%), Driver (6.74%) and Woodroffe (6.62%).
Local real estate agent Evie Radonich, of Ray White Darwin, said the Darwin property market was seeing a massive influx of interstate investors and buyer’s agents working for multiple clients.
“They’re mainly looking for properties with that high rental yield,” she said.
“Some are looking for that 6 per cent-plus rental yield while other have a minimum requirement of 7.2 per cent.”
Evie Radonich of Ray White Darwin.
Ms Radonich said in one of her main patches of Darwin City, investors were zeroing in on units priced between $350,000 and $450,000.
“What I hear from our property management team is those type of properties are not sitting on the rental market long,” she said.
“There is high demand in Darwin City for two-bedroom, two-bathroom units whereas houses in higher price brackets are taking longer to rent.”
Ms Radonich said the current market conditions were likely to continue, with property prices, rent and demand all trending up.
“With the development on the horizon in Darwin, there are going to be more people coming to the Territory in coming years, so I see the market improving even more,” she said.
The unit at 6503/7 Anchorage Ct, Darwin City, is for sale for offers over $440,000. Picture: realestate.com.au
DARWIN’S TOP SUBURBS FOR RENTAL YIELDS – UNITS
| Suburb | Median Sale Price | Median Asking Rent | Indicative Gross Rental Yield |
| Driver | $240,000 | $450 | 9.75% |
| Karama | $260,000 | $460 | 9.20% |
| Moulden | $257,500 | $440 | 8.89% |
| Gray | $270,000 | $453 | 8.71% |
| Larrakeyah | $390,000 | $638 | 8.50% |
| Bakewell | $289,500 | $465 | 8.35% |
| Berrimah | $414,000 | $640 | 8.04% |
| Leanyer | $331,000 | $510 | 8.01% |
| Darwin City | $408,500 | $625 | 7.96% |
| Coolalinga | $302,000 | $460 | 7.92% |
(Source: PropTrack)
DARWIN’S TOP SUBURBS FOR RENTAL YIELDS – HOUSES
| Suburb | Median Sale Price | Median Asking Rent | Indicative Gross Rental Yield |
| Gray | $410,000 | $565 | 7.17% |
| Zuccoli | $555,000 | $750 | 7.03% |
| Karama | $450,000 | $600 | 6.93% |
| Driver | $455,000 | $590 | 6.74% |
| Woodroffe | $447,500 | $570 | 6.62% |
(Source: PropTrack)
English (US) · 