The tropical and cosmopolitan capital of the Northern Territory has undergone a slight decline overall in the property market over the last 12 months. There have however been remarkable instances of growth in the quiet suburb of Bellamack, located at the southern-most tip of Darwin, where median house prices have skyrocketed to $665 thousand. The real estate agent commission for these record breaking properties would likely have been well above those of the metropolitan areas. Sitting between the Darwin Botanical Gardens and the CBD, the more metropolitan suburb of Stuart Park has found record prices of $1.9 million in the last 12 months, establishing itself as a very desirable location.
Darwin has an unregulated market when it comes to real estate agent commission. The Gardens, a diverse suburb with beaches to the west and parkland throughout, borders the city centre, which indicates a lower real estate commission, owing to its relatively high median unit prices and greater number of real estate agents. Agents will typically employ a higher real estate commission for properties in rural suburbs, like Karama in the North West, on the border of the Holmes Jungle Nature Park. This is usually caused by lower property prices and a lack of competing agents.
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