Darwin Housing Market Tight

Recent figures released by the Housing Institute of Australia for the June Quarter 2007 reveal that in the past two years rents in Darwin have increased by a staggering 36%, making Darwin the second most expensive Australian city to rent in.

Darwin residents now pay a media weekly rent of $340 per week for a 3 bedroom house. That's $70 more than Sydney, Perth and Brisbane and $90 a week more than Adelaide and Melbourne.

"How are young families meant to save a deposit for a home with rents at these exorbitant levels?” says Terry Mills, Deputy Opposition Leader.

"When you match Darwin's rental market against its housing market, it's obvious young families trying to save for their homes are now further away than ever from reaching their dreams.More >>

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