The mansion at 94 East Point Rd, Fannie Bay, has sold for $10m in October. Picture: Supplied
Darwin home prices dipped in October but remained nearly 10 per cent higher than a year ago, with the unit market leading the annual price hike.
The latest realestate.com.au Home Price Report revealed the median Darwin home price dropped 0.2 per cent last month to $630,000.
This was 0.6 per cent below the recent peak seen in June this year, but 9.3 per cent higher than October 2025.
The backtrack in prices can largely be attributed to the house market, with the average cost of a stand-alone dwelling dropping 0.2 per cent month-on-month to $717,000.
However, the median house price in Darwin was up 8.6 per cent annually and 30.5 per cent compared to five years ago.
The average unit price remained stable across October at $489,000 and was up 11.6 per cent year-on-year and 30.5 per cent since 2021.
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Darren Hunt of Real Estate Central Projects. Picture: Supplied
Darwin real estate agent Darren Hunt, of Real Estate Central Projects, said the monthly shift in home prices in the NT’s capital was “negligible at best”.
“Darwin is the lead performing capital city at the moment and will finish the year as the lead capital,” he said.
“Confidence (in the property market) across the board is generally lower, but not as low as across the east coast.
“We’re seeing less people at open homes, but the people we’re seeing are high conviction buyers.”
The property expert said buyers still saw value in the Darwin property market.
“Darwin and Hobart are performing well, which is not surprising as they’re the most affordable capital cities in the country,” he said.
“Darwin also achieved an all-time sales record of $10m in October.
“That’s a significant show of confidence in the Darwin market and we’re still seeing significant high-end prices achieved for various properties.”
The home at 21 Martin Cres, Coconut Grove, sold for $1.05m in October. Picture: Supplied
Mr Hunt said Darwin’s unit market had been performing particularly well this year.
“That is purely based on the yields,” he said.
“Vacancy rates have never been so low, and rental prices have never been so high.
“For those investors looking for property that is positively geared, Darwin is the logical choice for the those purchases now.”
In regional NT dwelling prices were down just 0.1 per cent in October but up 2.4 per cent annually to a median of $370,000.
Regional NT house prices were also down 0.1 per cent month-on-month and up 1.9 per cent year-on-year to a median of $383,000.
In the regional NT unit market, the median price was $341,000 in October after dipping 0.1 per cent across the month but rising 4.3 per cent for across the past 12 months.
Report author and realestate.com.au senior economist, Eleanor Creagh said nationally, home prices fell 0.3 per cent in October to sit at a median of $871,000.
All capital cities recorded price drops for the month, apart from Hobart, which remained steady.
Sydney’s decline from its peak exceeded Melbourne’s, while Brisbane and Perth fell almost 6 per cent from their highs.
Eleanor Creagh, ealestate.com.au senior economist. Picture: Supplied
“The pace of the declines in these previously strong markets highlight how quickly conditions have shifted as higher borrowing costs constrain purchasing power and weigh on buyer demand,” Ms Creagh said.
“Spring has brought more choice for buyers, but not the usual lift in momentum.
“Softer auction conditions, longer selling times and subdued sales activity suggest buyers are cautious.
“In this market buyers have more negotiating power, however higher mortgage rates continue to limit what households can borrow and pay.”
Ms Creagh said the market adjustment remains uneven.
“Regional markets continue to outperform the capitals, while units have held up better than houses as affordability increasingly shapes demand,” she said.
“Looking ahead, a further interest rate rise would reinforce the downturn already underway with softer housing market conditions likely to continue into 2027.
“Further price declines are likely as higher borrowing costs, weaker confidence and the cumulative impact of previous rate increases continue to weigh on demand, particularly where affordability has deteriorated most.”
Home Price Index – October 2026. Source: realestate.com.au
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