It Pays to Invest: Buyers See Return in Darwin

19 Feb 2024

Latest News

Etienne and Lizanne Nel have chosen to build their investment portfolio in Darwin, citing the city’s’ status as the most affordable location to purchase a house in Australia, whilst simultaneously recording the highest rental yields.

Leveraging this research, the couple strategically positioned themselves to capitalise on the potential upswing of the real estate market in the Northern Territory.

“Of all the different places we researched and found, the suburb of Palmerston gave us the best future return on investment,” Etienne said.

“The price you would pay for land and a house, versus the income you make from it, is really good.”

Palmerston is one of Darwin’s growing suburbs, approximately 25-minutes from the city centre. With the current rental yield set at 6.5 per cent nationally, the city of Darwin has continued to see solid rental returns on investments compared to other cities and regional areas in Australia.

Etienne and Lizanne migrated from South Africa in 2016 and settled in Darwin as their base after their research indicated a more favourable return on their investment.

“We currently live in Darwin and wanted to start building our investment portfolio. We looked at a lot of different places in Queensland, as well as Victoria and South Australia. When we looked at the price we’d pay in Victoria and the income we’d receive, there is a big difference in the return on investment. It was then really no question about Palmerston,” Etienne continued.

“So, we started to research around Darwin and found land in the residential estate, Zuccoli, which is in Palmerston. It ticked our boxes as there are quite a few new schools, day-care centres, shopping centres, and a lot of established and new facilities to support the community needs. It’s definitely a family community.”

After having a successful property portfolio in South Africa before the move, the couple knew the right equation to get started in Australia.

“When deciding on properties to invest, we looked beyond the land and house itself, we looked at the opportunities in the area, how popular it is, and asked ourselves, “is this where people want to be in the future?” and that is where we would buy?”

The couple secure a 616m2 block in Zuccoli, benefiting from the latest land release in the area – a joint venture development between Urbex and Land Development Corporation. The Nel’s anticipate completion of their investment property by early 2024, which marks their second property in Darwin.  They foresee future equity gains from both properties supporting the growth of their investment portfolio.

The outlook for Darwin property market looks promising and it is expected that Darwin will maintain its position as a prime choice for investment in Australia with a current vacancy rate at 1.5 per cent.

“Darwin offers a unique proposition with affordable entry price and exceptional rental yields. This is certainly gaining interest from sophisticated investors who expect a price growth in the future,” Craig Covacich, General Manager, Urbex Realty, said.

Zuccoli’s Dragonfly Land Release features titled land ranging from 450m2 to 675m2, with wide frontages of 15 to 21 metres and is set in the vibrant Zuccoli community, surrounded by bushland, and fringed by Mitchell Creek.

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Published: NT News 18/02/2024 ‘Darwin property market: Negative price growth hampers investor activity, according to experts’ (article link)


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