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Northern Territory suburbs join the million dollar club
July 11, 2011
Given its relatively small population, the Northern Territory has not been renowned for having a multitude of million dollar suburbs. However over the past few years, the number of million dollar plus sales has pushed 2 suburbs into the million dollar plus segment, and a further few on the cusp.
The who’s who of million dollar suburbs
One of the most sought after suburbs of Darwin is Bayview with a median house price of $1,173,500 in Q1 2011. Situated on the southern edge of the CBD, Bayview’s close proximity to the city and waterfront lifestyle has made it one of the most sought after suburbs for the past 8 years.
The other million dollar suburb in the Northern Territory is Larrakeyah. The older style Territory homes of Larrakeyah, has secured this suburb position in NT’s elite million dollar suburb club with a median house price of $1,168,500 in Q1 2011.
Suburbs on the cusp
In 2010, Fannie Bay twice recorded a median house price in excess of $1 million dollars. However despite reaching the million dollar club, Fannie Bay’s median house price for March 2011 fell short of the million mark recording $792,500.
In addition the suburbs of Brinken and Parap showed a median in Q1 2011 of $970,000 and $920,000 respectively.
The other area of interest is the Golf Course Estate in Alice Springs, which although it has not achieved the million dollar status, it has recorded two property sales over the million dollar mark – a first for Alice Springs.