Darwin property market data, trends, forecasts

By Andy Webb · Data to September 2026 · Updated October 2026

Darwin property market news - key takeaways

• Values near record high: Darwin home values rose +0.4 per cent in September, leaving them just -0.2 per cent below their July 2026 peak after a strong year of growth.
• More stock for buyers: Total listings in the Darwin property market are +18.1 per cent higher than a year ago, giving buyers more choice and more homes to compare before making an offer.
• Sellers giving more ground: The median vendor discount widened to -3.8 per cent from -2.8 per cent a year earlier, meaning sellers are accepting offers slightly further below their initial asking price.
• Rents still climbing fast: Darwin rents rose +11.6 per cent over the year, the fastest annual growth of any capital, with a vacancy rate of just 0.6 per cent keeping tenants competing for homes.
• Banks split on rates: With the cash rate at 4.60 per cent, ANZ and Westpac expect one more rise in November 2026, while CBA and NAB expect the rate to hold.

Darwin property price movements

The Darwin property market kept growing through September, building on a strong run over the past year. Monthly gains were modest, but values are sitting very close to their recent high.

Darwin property prices - September 2026

Darwin home values rose +0.4 per cent in September 2026, taking the typical property to $633,431. The standout figure is the annual result, with values up +11.9 per cent over the year.

^{Source: Cotality, data to September 2026}

The median value of Darwin homes rose by around $2,500 over the month. Values remain -0.2 per cent below their July 2026 peak, which puts a new record within reach. Quarterly growth of +0.5 per cent is small next to the annual gain, suggesting most of the past year's growth came earlier and the pace is now much gentler.

House prices in Darwin

Darwin house prices rose +0.3 per cent in September 2026, lifting the median house value to $747,252. Over the quarter, house values slipped -0.4 per cent, although annual growth of +9.6 per cent remains strong.

^{Source: Cotality, data to September 2026}

The median Darwin house value rose by around $2,200 over the month. The quarterly dip is small. Set against the annual gain, it means house owners are still well ahead of where they were a year ago.

Unit prices in Darwin

Darwin unit prices rose +0.8 per cent in September 2026, bringing the median unit value to $480,748. Units also gained +2.3 per cent over the quarter and +17.0 per cent over the year.

^{Source: Cotality, data to September 2026}

The median Darwin unit value lifted by around $3,800 over the month. Units have outpaced houses across every time frame, and they are the only property type still growing over the quarter. With a median well below that of houses, units offer a lower entry point, which may help explain why demand has held up so well.

Darwin property market forecasts 2026-2027

Australia's Big Four banks, CBA, Westpac, NAB and ANZ, publish house price forecasts as part of their regular economic research. Their views for Darwin over 2026-2027 vary, particularly once the outlook moves beyond the current year.

^{Source: each bank's published forecast (Last published column); change in dwelling values over the calendar year}

NAB and Westpac do not publish a separate Darwin forecast.

The banks that forecast Darwin agree on direction for 2026, with both expecting values to finish the year higher. The Darwin house price forecast splits in 2027, when CBA expects growth to continue at a slower pace while ANZ forecasts a fall of -3.8 per cent. That gap means the outlook for next year is far less settled than the near-term view.

Consultancy KPMG is more optimistic than the Big Four for 2027, forecasting +4.6 per cent for Darwin house values, with unit values at +6.9 per cent.

RBA cash rate forecast 2026-2027

The RBA's most recent decision lifted the cash rate for the fourth time this year, as inflation continued to run above the Reserve Bank's target range. The major banks are split on what comes next, with ANZ and Westpac expecting a further rise in November, while CBA and NAB expect the rate to hold. The table below sets out each bank's view.

The cash rate is 4.60 per cent. The major banks' forecasts for the next move:

^{Source: ANZ, CBA, NAB and Westpac forecasts, as at 8 October 2026}

What this means for the Darwin market

Higher rates reduce how much a household can borrow, because lenders assess each loan against larger repayments. Darwin's lower price point compared with the larger capitals means buyers feel that squeeze less sharply than in Sydney or Melbourne. Even so, a typical buyer has less room to stretch than at the start of the year.

Units have led Darwin's recent growth, and their lower entry price keeps them within reach for first-home buyers working with reduced borrowing power. Investors are also drawn by the city's high rental returns, which can help offset higher interest costs. If the banks expecting a further rise prove right, borrowing capacity would tighten again, which helps explain why the 2027 forecasts are more cautious than those for 2026.

Helpful resource: Our simple guide to tracking market trends and data will walk you through everything you need to know to be able to read the market and make a smarter selling decision.

Darwin house prices graphs and charts

Darwin's house price growth over the last 5 years has lifted the dwelling median to $633,431, with values up +0.4 per cent over the month and +0.5 per cent over the quarter, according to Cotality's latest figures. Annual growth sits at +11.9 per cent, placing Darwin among the strongest-performing capitals of the past year.

Cotality data shows Darwin offers a gross rental yield of 6.5 per cent, the highest of any capital. Combined with lower entry prices, that has kept buyers and investors active even as four rate rises this year lifted the cash rate to 4.6 per cent and reduced how much households can borrow. Homes are selling in a median 39 days, one day faster than a year ago, which suggests demand has held up while every other capital recorded a quarterly fall.

Darwin selling statistics

Darwin's selling conditions have held up well against the national picture over the past year. Homes are selling at much the same pace as a year ago, and the number of sales has dipped only slightly. More stock on the market and slightly wider discounts suggest buyers now have a little more room to choose and negotiate.

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Darwin sales volume and days on market

Darwin's sales volume fell -1.6 per cent year on year, a far smaller decline than the -9.1 per cent across the combined capitals and -6.4 per cent nationally. The typical home took 39 days to sell, one day quicker than a year ago. That matches the combined capitals figure and sits two days below the national median of 41 days.

^{Source: Cotality, data to September 2026}

The gap in sales volume suggests buyer activity in Darwin has stayed much steadier than in the broader market. On selling time, Darwin sits level with the combined capitals. Sellers should still plan for a campaign of five to six weeks rather than expect a quick sale.

Darwin new and total listings

New listings in Darwin rose +4.1 per cent compared with a year ago. Total listings, which counts every home currently advertised for sale, climbed +18.1 per cent over the same period.

^{Source: Cotality, data to September 2026}

With more homes coming onto the market while sales have dipped slightly, unsold stock has built up over the year. For buyers, that means more choice than 12 months ago. For sellers, it means more competing properties, even though dwelling values are still edging higher and sit close to their July 2026 peak.

Darwin vendor discount

Vendor discount measures the percentage difference between a home's initial asking price and the price it finally sells for. A wider discount means sellers are accepting offers further below their asking price, while a narrower one means sales are landing closer to the original figure. Weekly auction clearance rates are not included for Darwin because auction volumes in the city are too low to be statistically meaningful.

^{Source: Cotality, data to September 2026}

Darwin's median vendor discount sits at -3.8 per cent, wider than the -2.8 per cent recorded a year earlier. That means the typical seller is accepting about one percentage point further below their asking price than 12 months ago. The shift fits with the build-up in listings, as buyers with more homes to compare have more scope to negotiate.

Thinking of selling? Compare top-performing local agents in your suburb to find the right fit for your sale.

Darwin property investing

Darwin's rental market remains one of the most demanding in the country for tenants. Rents have kept climbing while very few homes sit empty, which leaves renters with limited choice. For investors, the same conditions mean steady demand and income returns that stand out against the other capitals.

Helpful resource: Estimate the capital gains tax on a sale with our free calculator.

Darwin rental market

The table below compares rental conditions across the capitals, including gross rental yields and the annual change in rents. It also splits the rent change into houses and units, so the two property types can be compared side by side.

^{Source: Cotality, data to September 2026}

Darwin rents rose +11.6 per cent over the year, the fastest annual growth of any capital, with houses (+11.4 per cent) and units (+12.0 per cent) broadly in line. Its gross rental yield, which is the yearly rent as a share of a property's value, sits at 6.5 per cent, the highest among the capitals. A yield that high means rents are large relative to purchase prices, which reflects Darwin's comparatively affordable homes and strong tenant demand.

Darwin vacancy rates

The vacancy rate measures the share of rental homes sitting empty, so a low reading points to more competition among tenants and ongoing pressure on rents. Darwin's vacancy rate was 0.6 per cent in September, little changed from 0.7 per cent a year earlier.

^{Source: SQM Research, September 2026}

That leaves Darwin well below the national rate of 1.4 per cent and among the tighter rental markets of the capitals. Only 162 properties were listed as vacant, compared with 171 a year ago, so the pool of available rentals has barely shifted. Vacancies have risen nationally over the year while Darwin's have held steady, which helps explain why local rents are still climbing quickly.

Louis Christopher, Managing Director at SQM Research, said in SQM Research's latest weekly update:

"The smaller capitals are a different story. With vacancy rates still below 1% in Brisbane, Perth, Adelaide, Darwin and Hobart, there is little sign yet of relief for tenants in those cities."

Mr Christopher sees little sign of easing for tenants in the smaller capitals, and Darwin's figures are consistent with that view. If Mr Christopher's reading holds, Darwin renters may keep facing strong competition for the few homes available. For investors, it suggests rental income should stay well supported in the near term, though that is an expert view of conditions rather than a certainty.

Highest growth areas in Darwin

Darwin is a compact market, so the table below covers every Statistical Area Level 3 (SA3) region in the city, ranked by annual percentage change in value. An SA3 is an Australian Bureau of Statistics region that typically groups several neighbouring suburbs together. Looking at growth at this level shows which parts of Darwin have led the city's gains over the past year.

^{Source: Cotality, data to September 2026}

• Darwin City: Ranked #1 with annual growth of +14.8 per cent and a median value of $565,609, Darwin City has the lowest entry price of the three regions. Its mix of inner-city apartments and established harbourside streets draws both owner-occupiers and investors, with suburbs such as Fannie Bay and Parap among the better-known names in the area.
• Palmerston: Ranked #2 with +11.0 per cent annual growth and a median of $657,455, Palmerston is the highest-priced of Darwin's three regions. The satellite city south-east of the CBD is popular with families seeking newer homes and larger blocks, particularly in growth suburbs such as Zuccoli and Bellamack.
• Darwin Suburbs: Ranked #3 with +10.3 per cent annual growth and a median of $633,507, Darwin Suburbs sits almost exactly in line with the city's overall dwelling median. Its established northern suburbs, including Nightcliff and Rapid Creek, offer coastal access and a well-developed network of schools and shops close to the city centre.
• Double-digit growth across the board: All three Darwin SA3s recorded annual gains of more than +10 per cent. Growth has been spread across the inner city, the northern suburbs and Palmerston rather than concentrated in one pocket. Prices that remain relatively affordable compared with most other capitals, along with strong rental returns, have kept buyer and investor interest steady across the city.
• Lower price point, faster growth: Darwin City, the region with the lowest median, posted the fastest growth, while Palmerston and Darwin Suburbs grew at a slower pace from higher price points. This suggests buyers have been most active at the more affordable end of the Darwin market, where entry costs are lowest.

Thinking of selling or investing in Darwin? Compare local agents or get a free property report with OpenAgent.