Darwin's 10 hidden gems: Parap is 27% cheaper than The Narrows and just 3km away

Darwin's 10 hidden gems: Parap is 27% cheaper than The Narrows and just 3km away
Darwin's 10 hidden gems: Parap is 27% cheaper than The Narrows and just 3km away

Nightcliff is Darwin’s most searched suburb by buyers, but with a median house price of $843,448 it’s out of reach for many. But nearby Coconut Grove has a median house price that is 19.8% cheaper.

Westpac has compiled a list of 10 Darwin suburbs where it’s cheaper to buy than in their more popular but pricey neighbouring suburbs.

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The hidden gem suburbs are close to the popular suburb but have a lower cost median house or unit price. The most popular suburbs were determined by the most searched for suburbs on realestate.com.au.

“Buyers who want to truly own their home sooner can find real value by simply considering a suburb which is just a stone’s throw away from their first preference,” says Westpac’s Gai McGrath.

If you wanted to buy a house in Darwin’s fourth most popular suburb, Parap, with a median house price of $808,054, you could consider travelling just three kilometres down the road to The Narrows where the average house price is 27% cheaper at $591,916.

You could own your home 15 years and eight months sooner and save $216,138 in purchase price $244,122 in interest repayments over time, according to Westpac.

If you wanted to buy a unit in Golden Grove, Adelaide’s eighth most popular suburb, you could consider travelling eight kilometres to Salisbury East where the average unit price is 28% cheaper.

The hidden suburb with most marked difference with its more popular counterpart was The Gardens which with a median house price of $719,522 is 40.5% cheaper than Larrakeyah’s $1.21 million.

Alistair Walsh

Alistair Walsh

Deutsche Welle online reporter

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