News Corp Australia
First published 1 Apr 2026, 6:00am
PropTrack’s Home Price Index for March, released today, reveals the Top End’s median home value rose 0.4 per cent to $609,000 last month.
Home prices have hit a new record high in Darwin, defying cost of living pressures, higher interest rates, and escalating tensions in the Middle East.
PropTrack’s Home Price Index for March, released today, reveals the Top End’s median home value rose 0.4 per cent to $609,000 last month, but a slowdown is emerging.
“Darwin has seen a pretty sharp slowdown in the pace of growth,” said PropTrack senior economist Eleanor Creagh.
“It has been one of the strongest performing capital city markets over the past year, but we are seeing fewer transaction volumes and more volatility in the month to month data, so potentially one to watch in how fast that slowdown is in coming months.”
Home prices have hit a new record high in Darwin.
12 Livistona Road, Karama recently sold for $707,200.
The report found Darwin home prices are now 16.8 per cent, or $95,500, higher than they were a year ago.
The city is the third fastest growing capital across the country over the year
“Total stock on market is down 40 per cent in the past year, so when stock on market is that low, conditions remain more competitive and that does tend to put upward pressure on home prices,” she said.
The report revealed the nation’s median home value rose another third of a per cent to $908,000 last month, while annually values jumped 9.4 per cent, or $94,800.
Among the capital cities, Brisbane recorded the biggest monthly rise of 0.7 per cent, followed by Perth (0.5 per cent), while the other capitals recorded softer growth.
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22 Griffe Street, Nakara recently sold for $956,000.
Both Sydney and Melbourne recorded a modest 0.2 per cent increase.
Annually, Perth continued to lead the gains, recording a 21 per cent increase in its median home price to just over $1m for the first time ever.
In regional areas, home prices grew 0.4 per cent in March, and are 11 per cent higher compared to a year ago.
PropTrack senior economist Eleanor Creagh. Picture, John Gass
Ms Creagh said that while growth continued, momentum had eased, with more than three quarters of SA4 regions recording a deceleration in monthly growth relative to February.
“This points to a slowdown in growth emerging across the country and a clear turning point in the cycle, as rising interest rates weigh,” Ms Creagh said.
“While price declines remain limited, they are beginning to emerge in some inner and middle ring markets, most notably in Sydney and Melbourne. I wouldn’t be surprised if we saw price falls in Sydney and Melbourne (in April).
“Recent rate rises will weigh on buyer sentiment, borrowing capacity, and erode already poor affordability, though a resilient labour market, population growth and first-home buyer support continue to underpin demand against limited supply.”
2 Parsons Street, Fannie Bay, recently sold for $1.115m.
Ms Creagh said the market was shifting into a slower-growth phase, with the likelihood of flat or declining prices in some markets in the months ahead — although supply shortages could cushion the falls.
New research from the Mortgage & Finance Association of Australia (MFAA) reveals four in five mortgage holders are concerned about the financial outlook.
The MFAA’s latest Market Sentiment Survey of the Association’s mortgage broker members shows rising rates, cost-of-living pressures, and increasing mortgage serviceability issues are putting pressure on households.
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