Darwin market in oversupply with price gains a few years off: BIS Oxford Economics

Darwin market in oversupply with price gains a few years off: BIS Oxford Economics
Staff reporterJuly 15, 2019

Darwin house prices have been falling since 2014/15 as resource sector investment has also fallen away, impacting on employment, migration and population growth.

According to the BIS Oxford Economics Residential Property Prospects 2019 to 2022 report, the market is estimated to be currently in oversupply with high vacancy rates. 

Affordability has now become very attractive, the report said.

However, without a strong turnaround in the economy or the demand/supply balance, only moderate house and unit price growth of 7% and 8% respectively is forecast to June 2022.

The firm predicts that these gains will be mainly toward the end of this period as supply begins to tighten.

Click here to enlarge:

Click here to enlarge:

Click here to enlarge:

Editor's Picks

Olympic infrastructure fuels residential boom in Maroochydore City Centre
Australian Federal Election 2025: How Labor and Liberal plan to fix the housing crisis
First certified Passivhaus homes in Australia complete in Hawthorn
Figurehead covers stamp duty at Osprey Safety Beach in pre-Easter sales offer
Morris releases second tower at Crest Broadbeach after tower one sales success