Darwin Real Estate Has Largest Market Value Recovery

Real estate in Darwin has experienced the largest recovery in market value of any Australian capital city, according to RP Data.

In an April 2013 blog post, Tim Lawless - who heads up the organisation's research and analytics team - revealed that between the end of May 2012 and the end of March 2013, the value of residential properties in Darwin climbed by 13.9 per cent, compared with the national increase of 4.7 per cent.

Property in Perth and real estate in Hobart and Sydney also showed increases of 9.4 per cent, 6.9 per cent and 5.4 per cent, respectively.

In fact, Mr Lawless noted that real estate in Sydney has now reached a historic high - property values here are now 0.1 per cent stronger than at their previous peak in November 2010. This, he observed, is largely down to higher values for units rather than for detached homes.

However, improvements in Brisbane and Adelaide tend to be slightly more subdued than elsewhere in the country, with rises of 3.1 per cent and 1.5 per cent, respectively.

Overall, Mr Lawless concluded, the national property value needs to increase by three per cent before new Australian historic highs can be reached.