Where to find Darwin’s cheapest homes

The home at 26 Gumnut Way, Moulden, sold for $485,000 in November, 2024. Picture: realestate.com.au

The top spots where Darwin homebuyers can pick up bargain real estate have been revealed with new data showing the suburbs with the lowest unit and house prices for the year.

In the house market, Gray was the most affordable suburb in the Darwin region with a median sale price of $410,000.

Coming in second was Moulden where the median house price was $417,000 and third was yet another Palmerston suburb – Woodroffe – with an average house price of $430,000.

Rounding out the top five were Karama ($450,000) and Driver ($455,000).

For unit buyers, Bakewell had the most affordable properties on average with a median sale price of $285,000.

This was followed by Nightcliff ($340,000), Rosebery ($345,000), Coconut Grove ($352,000) and Leanyer ($360,000).

The home at 1/11 Bryden St, Rosebery, is for sale with a price guide of $447,000. Picture: realestate.com.au

Elders Real Estate Top End agent, Rayna Kirikino said Darwin’s bargain suburbs offered incredible value for money, and while some didn’t have the best reputations overall, there were plenty of gems to be found.

“There are certain pockets that are good and certain pockets that aren’t so good in each suburb,” she said.

“Bakewell and up are more desirable than the older suburbs and have quite affordable prices.

“Bakewell would be my first choice (for bargain real estate).

“You can still buy a home there from $440,000 to $480,000.”

On average, houses in Darwin’s five most affordable suburbs sold for well below the Darwin median house price of $565,000, and less than half the average Australian house price of $872,000, according to PropTrack data.

“The homes up here are so much more affordable,” Ms Kirikino said.

“That’s why investors are buying up in Darwin.”

The property at 29/3 Fairway Drive, Driver, is for sale with a price guide of $437,000. Picture: realestate.com.au

The experienced agent said there had been a significant increase in buyer’s agents purchasing Darwin properties for investors in the second half of 2024.

“It’s been crazy,” she said.

“The market has definitely shifted this year and (affordable) homes are selling very quickly.

“(Owner occupiers) will be very lucky if they get into established homes, because they’re competing against those investors.”

Ms Kirikino said the increased activity in the lower end of the market was driving up prices.

“I recently sold a three-bedroom, one-bathroom home in Moulden for $485,000, which is a pretty good price for the sellers for a three-bedroom home,” she said.

According to the latest PropTrack data, the median house price in Gray increased 7.9 per cent in the year to November.

The unit at 4/15 Donaldson Crt, Karama, is for sale for $205,000. Picture: realestate.com.au

In Moulden the average cost of a house shot up 11.3 per cent in the past year while in Woodroffe house prices jumped 12.6 per cent in the November quarter.

Ms Kirikino said she predicted the upwards trend in home prices would only continue in the Darwin region next year.

“I think it’s going to be as strong as the end of this year,” she said.

“Homebuyers should get in now or they’ll miss out.”

DARWIN’S MOST AFFORDABLE SUBURBS

HOUSES

(Suburb – Median sale price)

Gray – $410,000

Moulden – $417,000

Woodroffe – $430,000

Karama – $450,000

Driver – $455,000

Bakewell – $489,000