Already a subscriber?The housing affordability debate features many alarming figures, but here are two that are especially sobering. The median property price in all state and territory capitals – including Darwin – now exceeds $500,000. That means would-be buyers must save a median of $100,000 to cover a standard 20 per cent deposit to live in a capital city.
Ms Owen said that compared to the recent performance of other capital cities, Darwin could be characterised as more of a “slow and steady performer”. Unlike other capitals, which have recorded a generally upward trend of property value growth over the past 20 years, Darwin’s growth has been more volatile. The median property value in the city first cracked $500,000 in 2012, when it was the second most expensive capital behind
CoreLogic does not record a regional median property value for regional areas of the Northern Territory because of the small market size, but it is possible to buy a median-priced house beyond Darwin for $450,431.With median house and apartment values both below $500,000, regional SA represents the best value for budget-conscious buyers. Elsewhere, buyers can snag a median-priced apartment in regional Victoria, WA or Tasmania below the half-a-million mark.
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