Large oversupply of units in Darwin: HTW

Large oversupply of units in Darwin: HTW
Large oversupply of units in Darwin: HTW

Darwin has a large oversupply of units relative to demand, according to Herron Todd White’s latest report.

The property advisory firm says that there has been an increasing trend in rental vacancy while the demand for new units has been very soft.

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Large oversupply of units in Darwin: HTW

However both the trend in new unit construction and volume of unit sales is declining.

This may be because Darwin’s unit market is declining while new properties are frequently sold at prices exceeding their potential resale value.

A recent sale at Darwin is at 4/6 Foelsche Street (above) which sold for $425,000.

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