The Territory suburbs where homebuyers are spoilt for choice have been revealed even as new listing numbers fall across the NT.

 

Exclusive data from REA Group showed listings in certain Territory suburbs were sitting up well above the five-year average.

 

Topping the list was East Side in Alice Springs where last month total listing were at 176 per cent relative to the five-year average.

 

Coming in second was the Darwin suburb of Muirhead, at 156 per cent, followed by Araluen (141%), Braitling (124%) and Rapid Creek (122%).

 

Bellamack was in sixth place with listings at 115 per cent of the five-year average, then Johnston (113%), Sadadeen (113%), Katherine (111%) and Humpty Doo (106%).

 

Real Estate Central director, Daniel Harris said there were likely a number of factors driving listing numbers across the NT as markets were so varied.

 

“You’ve got completely different markets within Darwin let alone factoring in Alice Springs and Katherine and regional NT,” he said.

 

“Just in Darwin the affordable, entry level market is different to the high end market and different to the unit market.

 

“But generally, high stock levels mean properties aren’t move quickly and low stock levels generally mean demand will exceed supply.”

 

The latest REA Group Listings Report showed new Darwin listings on realestate.com.au fell 63 per cent last month to sit 19 per cent lower than December 2023.

 

Total listings were also down in December with buyers faced with a 16.2 per cent drop in the number of homes for sale month-on-month and a 25.9 per cent drop year-on-year.

 

REA Group Director of Economic Research, Cameron Kusher said new listing numbers were also down across the rest of the Northern Territory.

 

“Regional NT recorded the greatest drop in new listings coming to market in December of the rest of state areas, with 51.9 per cent less new listings compared to a month prior resulting in a 15.6 per cent drop year-on-year,” he said.

 

“Despite this, buyers in regional NT had more overall choice in December with total listings up 3.9 per cent from December 2023, marking the highest total listings for December since 2020.”

 

Mr Harris said the sentiment across the Darwin real estate industry was that the market was gradually improving.

 

“Low stock levels are normally a sign of a market that is getting stronger,” he said.

 

However, the listings data didn’t paint the whole picture when it came to the Darwin property market, Mr Harris said, as the NT’s capital was seeing a surge in off market sales

 

“I can’t recall a time where there has ever been such a high percentage of transactions occurring off market,” he said.

 

“It’s predominantly driven by investors.

 

“There are plenty of investors looking to get into the Darwin market, which has a played a major role in sale volumes increasing in the past four to five months.”

 

The REA report showed nationally, new listing volumes were 7.9 per cent higher across 2024 compared to 2023, marking the highest year of new listings since 2021.

 

“The typical seasonal slowdown in new listings saw national volumes fall 50.6 per cent month-on-month in December, which was a smaller fall than the 53 per cent monthly decline in new listings in December 2023,” Mr Kusher said.

 

“National total listings fell 11.9 per cent month-on-month in December 2024 yet were 5.7 per cent higher than December 2023 and the highest they have been in December since 2020.”

 

NT SUBURBS WITH THE MOST CHOICE

Suburb/total listings relative to five-year average

1. East Side – 176%

2. Muirhead – 156%

3. Araluen – 141%

4. Braitling – 124%

5. Rapid Creek – 122%

6. Bellamack – 115%

7. Johnston – 113%

8. Sadadeen – 113%

9. Katherine – 111%

10. Humpty Doo – 106%

 

Author: Courtney Snowden

Source: https://www.realestate.com.au/news/revealed-nt-listing-hotspots/