The property market in Northern Territory's capital, Darwin, has been strong of late, despite a minor fall in property values over the last year. There have been great returns on many properties, including in the bay side suburb of East Arm, where record high prices over the last 12 months have hit $4.3 million.
In metropolitan Darwin, at the centrally located suburb of Stuart Park, running beside the George Brown Darwin Botanic Gardens, over 100 properties have been sold in the last year, where property management fees tend to be lower than the city average.
Typically a property manager will change a management fee depending on a few factors, including property density, property value and how many competing agents operate in the area. Normally, property management fees include an initial payment of 1 -4 weeks rent, followed by a continual fee of 5 – 10% of the monthly rent.
This affects rural and regional areas, such as Buffalo Creek, as agents will tend to raise their fee, whereas in the CBD and metropolitan areas, like in north eastern Winnellie, nestled between Charles Darwin National Park and the Darwin International Airport, property management fees are often lower.
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