Most Affordable Capital City Secures Investor Ready Land

Starting from $218,000, the Crosby Release will feature 21 land parcels ranging from 454m² to 652m². This development offers a blank canvas for investors and stakeholders to shape, meeting the growing demand for rental properties.

Darwin is known for its unique blend of being the most affordable city to purchase property, high rental yields, and strategically located developments offers both locals and investors lucrative prospects. This is underscored by the recent data released by PropTrack.

According to the PropTrack Rental Report for the quarter released in March 2024, gross rental yields for houses in Darwin recorded 6.5 per cent, showing a 0.8 per cent increase since March 2023.* With almost half (43.8 per cent)* of the Darwin population renting their homes and a significant shortage of properties available for rent, the demand for investors has never been higher.

“With limited properties available and a strong demand seeing many available properties disappear from the market, the only solution that could slow down the rate of rental increases is an increase in supply of land and property for the sole purpose of renting,” Craig Covacich, General Manager of Urbex Realty said.

Covacich says the future of the Darwin property market presents a compelling prospect for savvy investors around the country.

“With the median house price sitting at $561,600, Darwin remains the most affordable capital city and given the high demand for rental property, there is a level of confidence that investors will see a return on their asset,” he said.

“Affordability combined with exceptional rental yields make it an attractive proposition for investors seeking both immediate returns and long-term growth potential.

“In this dynamic environment, where affordability meets good rental yields and low vacancy rates, developments like Zuccoli Village presents an enticing investment opportunity to capitalise on Darwin’s demand for quality housing rentals.”

Nestled within the vibrant Zuccoli community, the Crosby Release is surrounded by picturesque bushland, residents enjoy the convenience of local schools, childcare centres, and the Zuccoli Plaza, all just minutes away from doorsteps.

Recognised as an award-winning community, Zuccoli has drawn in investors due to its strategic location five minutes from Palmerston City Centre, whilst offering residence the tranquillity of a serene, peaceful neighbourhood conveniently removed from high-density living.

Published: NT News 29/06/2024 ‘New Palmo land release invites investor interest’ (Print – P10 Real Estate Section) & Realestate.com.au 28/06/2024 ‘New land release in Palmerston invites investor interest‘ (article link).