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The home at 19 Kirkland Cres, Larrakeyah, was the most expensive home to sell in the NT in 2024. Picture: Supplied
The Territory’s most expensive home sales of 2024 have been revealed with the top 10 totalling almost $30m.
Coming in at number one was the $5.325m sale of 19 Kirkland Cres, Larrakeyah, in April.
Sold by Seth Chin, of Chin Property Group, the three-storey property featured 1300sq m of floor space, four bedrooms, seven bathrooms and a $300,000 home gym.
“A local family purchased the home and they were really excited to be moving into a landmark Darwin property,” Mr Chin said.
“It’s not often we get super high net worth buying super high net worth properties up here.
“We only see these type of sales about once every five years or so.”
Mr Chin said while the Larrakeyah home was $3m more expensive than the next highest sale, it still represented great value.
“There is no way you could buy the land and replace the home for that money,” he said.
The home at 2 Kuru Ct, Brinkin. Picture: Supplied
The home at 2 Notley Pl, Parap. Picture: Supplied
Second place on the top sales list of 2024 was a three-way tie.
The homes at 2 Kuru Ct, Brinkin, 2 Notley Pl Parap and 13 Perkins Ct, Larrakeyah all sold for $2m.
Mr Chin sold the Brinkin and Larrakeyah properties, while Wayne Smith of Smith Real Estate sold the Parap home with Andrew Harding of Ray White Darwin acting on behalf of the buyer.
Rounding out the top five was the $1.925m sale of 22 Edinburgh Cres, Brinkin, by Darren Hunt and Daniel Harris of Real Estate Central Projects.
Of the 20 most expensive sales in the NT this year, 19 were in the Darwin region, one was in Alice Springs, two were in the Darwin rural area, 12 were in coastal suburbs and two were in Muirhead.
The home at 22 Edinburgh Cres, Brinkin. Picture: Supplied
The property at 420 Virginia Road, Virginia. Picture: Supplied
Andrew Harding of Ray White Darwin, who broke the Nightcliff property record with the $1.85m sales of 15 Frangipanni St and then broke it again with the $1.87m sale of 9 Banksia St, said the Darwin luxury property market went from strength to strength in 2024.
“Well-built turnkey homes have become quite desirable in the luxury market,” he said.
“And the classic elevated home with refined luxury are always a showstopper.”
Mr Harding said about 80 to 90 per cent of buyers in the luxury market were local families looking to upsize.
“Buyers looking in that $1.5m to $2.5m price bracket will take their time but when they find the right property, they will move quickly,” he said.
Mr Chin said Darwin’s high value housing sector remained strong in 2024 and buyers were taking note.
“Several interstate investors have bought multiple high end homes on the water here as they see the Darwin market representing great value,” he said.
“Where else in country can you buy a house on the water in a capital city with four to five bedrooms for $2m?
“And in the established areas of Larrakeyah, Cullen Bay and East Point Rd, there will never be more supply.
“With that finite supply of housing and the hopefully increasing population, there will always be a demand for these high end locations.”
The home at 15 Frangipanni St, Nightcliff. Picture: realestate.com.au
The home at 1 Morice Ct, Larrakeyah. Picture: realestate.com.au
Mr Chin said the Darwin market had seen more high end sales this year compared to 2023, with activity increasing after the NT election.
“Buyers sentiment has improved, and we saw a lot more enquiries and movement in the market,” he said.
“I’ve also noticed an uptick in commercial transactions this year, which is a sign of a healthy market and improved economy.
“I sold Minerals House at 66 Esplanade for $9m a few months ago and also transacted on Poinciana Hotel and Noodle House for $6m.”
NT’S MOST EXPENSIVE HOME SALES OF 2024
1. $5.325m – 19 Kirkland Cres, Larrakeyah – Seth Chin, Chin Property Group
2. $2m – 2 Kuru Ct, Brinkin – Seth Chin, Chin Property Group
3. $2m – 2 Notley Pl, Parap – Wayne Smith, Smith Real Estate and Andrew Harding, Ray White Darwin
4. $2m – 13 Perkins Ct, Larrakeyah – Seth Chin, Chin Property Group
5. $1.925m – 22 Edingburgh Cres, Brinkin – Darren Hunt, Daniel Harris, Real Estate Central Projects
6. $1.91m – 420 Virginia Rd, Virginia – Darren Hunt, Daniel Harris, Real Estate Central Projects
7. $1.9m – 3 Hibernia Cres, Brinkin – Michael Van De Graaf, Real Estate Cental
8. $1.87m – 9 Banksia St, Nightcliff – Andrew Harding, Evie Radonich, Ray White Darwin
9. $1.85m – 15 Frangipanni St, Nightcliff – Andrew Harding, Evie Radonich, Ray White Darwin
10. $1.85m – 1 Morice Ct, Larrakeyah – Nick Scaturchio, Pacific Property Darwin
The home at 7 Knight St, Fannie Bay. Picture: Supplied
11. $1.825m – 7 Knight St, Fannie Bay – Andrew Harding, Evie Radonich, Ray White Darwin
12. $1.78m – 67 Hargrave St, Muirhead – Darren Hunt, Daniel Harris, Real Estate Central Projects
13. $1.775m – 38 East Point Rd, Fannie Bay – Andrew Harding, Evie Radonich, Ray White Darwin
14. $1.75m – 121 Ragonesi Rd, Ross – Unknown
15. $1.715m – 29 Kerr Ct, Knuckey Lagoon – Daniel Harris, Darren Hunt, Real Estate Central Projects
16. $1.7m – 12 Aralia St, Nightcliff – Andrew Harding, Evie Radonich, Ray White Darwin
17. $1.7m – 1 Changsha Cres, Muirhead – Kam Gill, Smart Real Estate
18. $1.7m – 245 Whitewood Rd, Howard Springs – Michael Van De Graaf, Real Estate Central
19. $1.69m – 36 Ross Smith Ave, Parap – Andrew Harding, Evie Radonich, Ray White Darwin
20. $1.67m – 34A East Point Rd, Fannie Bay – Andrew Harding, Evie Radonich, Ray White Darwin
