According to statistics released by the Australian Bureau of Statistics and published by the Real Estate Institute of Australia, roughly 523 estate agents do business in the Northern Territory of Australia, working for 192 real estate establishments.
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Modern real estate in Darwin
According to the 2016 census, 43,051 occupied private dwellings can be found in Darwin. Of these, 63.3% are separate houses, 10.8% are semi-detached, and 23.4% are flats or apartments.
With an annual growth rate of 2.6% since the census in 2006, Darwin is one of the fastest growing Australian capital cities. An overall cooling in the housing market could signal renewed interest from prospective buyers.
Commission structures in Darwin can be divided into fixed or tiered commission, according to the terms that are negotiated with the agent. The agent commission rate in Darwin is 2.71% on average, but commission rates may vary.
An evolving capital city
Acting as the Top End’s regional centre, the city of Darwin may be the smallest and most northerly Australian capital city, but by no means is it a sleepy little town. In fact, its close proximity to countries like East Timor and Indonesia makes Darwin a fundamental link between Australia and South East Asia.
As you might expect, the city was named after the famed naturalist and biologist, and the father of the theory of evolution, Charles Darwin. It was initially known as Port Darwin, after being named so in honour of this former shipmate on the HMS Beagle, which sailed into Darwin harbour on 9 September 1839 to survey the area.
Darwin is famed for being a fishing destination, and visitors from around the world come to the city to catch the prized and iconic barramundi, which is a type of sea bass that is renowned for its versatility and taste. Today, mining and tourism are the primary drivers of industry in Darwin.
Festivals like the annual Darwin Lions’ Beer Can Regatta – which has participants construct boats from beer and soda cans, bottles and milk cartons – always draw large crowds. Another popular festival is the annual Seabreeze Festival, which showcases local talent pertaining to arts and culture.