Growth hot spots

PUBLISHED : Wednesday, 20 January, 2010, 12:00am
UPDATED : Wednesday, 20 January, 2010, 12:00am
 

A strong jobs market built around the booming resources sector is driving Darwin's population growth, and therefore demand for housing. Tod Peterson, director and owner of Peterson's Property Search, says investors looking for a location that will rent easily have plenty of choice.

According to RELM, the Northern Territory Real Estate Local Market analysis, the vacancy rate across Darwin's residential sector is just 1.7 per cent, and there is full occupancy in some areas.

Peterson's 'hot spots' for projected strong capital growth include Stuart Park, Parap and Woolner in the inner-city, along with the more expensive harbourside suburbs of Fannie Bay and Bayview.

With so much activity in the resources sector, he expects demand will be huge for housing in the suburbs of Bellamack, Mitchell, Johnston and Zuccoli, as well as 'all of Palmerston', where population growth is the highest in the Northern Territory, and there is zero vacancy rates on rental property.

Peterson is planning more Darwin property roadshows in Singapore and Hong Kong this year.

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