Suburb of the Month: DARWIN, CBD

Location
Darwin is Australia’s most northerly capital city and is located near the tip of the Northern Territory.
 
Description
Darwin is a small but rapidly expanding vibrant tropical city and is one of the most modern capitals in Australia. It is considered the gateway to the South-East Asia region because of its close proximity to Indonesia and South-East Asia. Darwin’s central residential districts are some of the fastest growing in Australia and the city’s recent prosperity has led to many medium density quality apartments being built. These are highly sought after by residents seeking a cosmopolitan lifestyle.

Facilities
Darwin city has all the facilities expected from a bustling metropolis, with international hotels, art galleries, museums, shopping malls, restaurants, markets, parks and entertainment centres. The suburb is one of the most developed areas in the region, as it contains the CBD and many government buildings (including Parliament, Government House and the Northern Territory Supreme Court). There are a number of parks and recreational centres in the area including the George Brown Botanic Gardens and Bicentennial Park and the suburb is situated on the harbor. Due to the commercial/administrative nature of Darwin city, there are only two schools in the suburb – a Catholic primary school and a public high school.
    
Industry and Employment
There are a broad range of employment opportunities available in Darwin due the diversity of its industries and the flow-ons from the resources boom. Strong continued growth is expected in the major industries such as mining, offshore oil and gas production, pastoralism and tourism. The Port of Darwin is also the main outlet for Australia's live cattle export trade into South East Asia. The main employer in the Darwin CBD is the business sector, with many residents working as professionals, managers and clerks. The nearby defence barracks and the State Government offices also provide significant opportunities for employment.  

Population
Darwin is Australia's smallest capital city, with a total population of approximately 106,000 residents. The population of Darwin's central district was recorded as 2,484 by the 2006 Census and the predominant age group is 20-29 years.

Housing Market
There are 126 houses and 915 units in Darwin, for a total of 1041 dwellings. Almost two thirds of all residences are rented.

Residex Statistics

	Houses	Units
Current median rental yield	3.0%	5.5%
Current median value	$1,789,000	$459,500
Current weekly median rent	$1055	$485

June 2010