Published on December 11th, 2012
Darwin rental market has slowed, agent says
The rental market in Darwin has slowed down past the unsustainable high that was the case just a month ago.
Chris Deutrom from Elders Real Estate said that after six months of 30 applicants making enquiries for a single property, the market has slowed down with rental prices stabilising.
He commented: "People were panicked by the number of workers coming into town as part of infrastructure projects but they've begun to realise that properties are still available.
"The real estate market is also seeing steady growth with around one per cent gains a month which is actually a good thing. I prefer slow and steady growth compared to booms because inevitably, there will be a bust."
He added that realestate.com.au has named Elders Darwin and Elders Palmerston the number one in their respective markets for new listings in the fourth quarter of 2012.
Elders Darwin had 33 out of 407 or an 8.1 per cent share of the marketplace, while elders Palmerston had 30 out 264 which equates to an 11.3 per cent slice of the real estate pie.
Chris mentioned that over the last few months, he and his team have been utilising a marketing campaign to bring in new business before the end of the year. Offering raffle tickets for shopping trips and alike has set up his office to be in a good position for the next few months of 2013.
He said: "You really need to ensure you have a good client base towards the end of the year otherwise you'll get to late February, early March and you'll really be stuffed."
Talk to Elders Real Estate in Darwin and discuss with Chris Deutrom and his team about how they can assist you with your property needs.
Chris has been in the industry for a quarter of a century and will be able to use his experience to ensure your time in the real estate market is a successful one.