Darwin leaves 18% annual price growth long behind: Domain Group
Jonathan ChancellorDecember 7, 2020
A weakening resource-based economy and rising affordability barriers from previous strong prices growth prompted buyer activity in the Darwin housing market to decline over 2014, according to the Domain Group senior economist, Andrew Wilson.
But despite further weakening over 2015, the local economy remains fundamentally strong with continuing low unemployment rates, he noted.
"Lower interest rates should assist the market to gradually recover through 2015 with price growth expected between 1 and 3%," Wilson forecast.
Source: Domain Group
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.
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