Darwin Market Records Strong Growth
Sales volumes and median prices on the rise in the N.T
By Terry Christodoulou
Thu, Feb 18, 2021 12:35am
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The December quarter saw the Darwin property market enjoy a spike in sales volumes, up more than 20 per cent alongside rising median property prices.
A new report from the Real Estate Institute of the Northern Territory (REINT) detailed the state capital’s strong end to 2020, with ascendent median house and unit prices.
According to the REINT’s ‘Real Estate Local Market (REALM) Report’, the median price of units outpaced that of housing, up 6.7 per cent against the 4.2 per cent rise in the median price of detached dwellings.
Growth covered wider Darwin except for the north east. The current median house price in the city is now $500,000, with units at $320,000.
Elsewhere, Katherine saw a surging 73.7 per cent rise in sales volume, with Tennant Creek up 50 per cent and Alice Springs continuing its move along a robust growth corridor, up 36 per cent.
“While it is far from the peaks of 2014, this has been the most positive year in over half a decade and bodes well for continued growth into 2021,” said REINT chief executive Quentin Kilian.
Median rents also increased in the Greater Darwin Area by 6.9 per cent (houses) and 6.6 per cent (units), with rental yields strong for the investor set – house yields rising to 5.3 per cent and unit yields steady at 5.9 per cent.
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Owned by Richard Outten, who’s penned screenplays for films including “Pet Sematary Two” and “Lionheart,” this is only the third time the home has been on the market
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A Mid-Century Modern home in Carmel, California, hit the market on Friday for just the third time in 70 years with a listing price of $4.25 million.
Located in the community of Carmel Highlands, the house is just steps from the coastline and comes with private beach access, according to the listing with Tim Allen of Coldwell Banker Realty in Northern California. Allen was not immediately available for comment.
The property last changed hands in 2010 when Hollywood screenwriter Richard Outten bought it for $990,000, public records show. Outten penned the screenplays for the 1992 movie “Pet Sematary Two” and the 1987 film “Lionheart,” and created the story for the 2012 “Journey to the Center of the Earth” sequel, “Journey 2: The Mysterious Island.” He was not immediately available for comment.
Built in 1953, the home’s mid-century charm has been preserved over the years while still being updated for modern living. Interior details include wood paneling, exposed-brick walls and beamed ceilings.
The single-level house has 1,785 square feet, which includes three bedrooms and two full bathrooms. Though not directly on the water, large windows flanking the adobe-brick, wood-burning fireplace look out at the ocean.
Sliding glass doors create a seamless flow between indoor and outdoor living. Outside, there’s a large patio surrounded by lush landscaping, and there are also meandering paths through sustainable succulent gardens, according to the listing.
In addition to its close proximity to the beach, the home is a 10-minute walk from downtown Carmel-by-the-Sea.
As of July, the median list price in Carmel is $3.1 million, up 8% from last year, even as active listings have increased 50% year over year, according to data from Realtor.com.
