Darwin rentals in hot demand: Raine & Horne

Demand for Darwin rental properties is booming, according to Raine & Horne Darwin.

The agency said that the Darwin rental market is still above the 2% vacancy rate sweet spot achieved a few years ago, with vacancies running at more than 7%.

Rental days-on-market have fallen to an average of about 32 days in Darwin, according to Glenn Grantham, general manager, Raine & Horne Darwin.

"Rental yields for Darwin houses have improved and are currently 5.1%, which is the highest in Australia,” he said.

Grantham said that the keys to securing a tenant in the Darwin market are presentation and sensible pricing.

“Vacancies are headed in the right direction, which is a good sign, however its means investors shouldn’t be complacent.”