Tonight my wife and I went to an auction in Darwin. A lovely place, lovingly looked after designed for the weather. 6 Sanders Street, Jingili, NT 0810 The Darwin market has been D.E.A.D and for the past 3 years we've gone to auctions and either been the only ones there or have watched 2 low-ball bids before being passed in. Not today. The place was chokkas. You couldn't move and there were 9 serious bidders. The opening bid was 450k, the second bid was 600k. 15 minutes of furious bidding later it was sold at...726k!!! I was expecting 620-690k. I would have never expected 726k. Hard to know if it's a sign of life up here.....but its certainly surprising. And a lesson in outstanding presentation and markets within markets.
Honestly, considering how the market has been here...maybe not? But yeah, the vendors must think it's Xmas!
Maybe it is a sign of the times. The home certainly appeared well presented. Emotional purchases often stretch just that little bit further. I'm assuming this is a PPOR purchase.
The purchasers may also have been from the southern Cities (Sydney, Melbourne) where in comparison this was a bargain!
Apologies for bumping an old thread, but just had to comment on this. There's no way this place was worth $726k - mid to high $600k at best. Agree that this must have been emotional buyers new to Darwin.
Actually it had to be worth 726k. No ifs or buts about it. The auction clearly has spoken. The elevated houses are still doing well. Especially with granny flats.
Hopefully it picks up. Just bought a 4b 2 bath place in Jingili with a granny flat. Great to have it for some extra income
