Cost of Living: Darwin Homeowners’ Best

Welcome to Darwin, where homes are cheap, rents are high, and alcohol is more expensive than any other capital city, as shocking new analysis reveals how Darwin stacks in the cost of living stocks.

Exclusive research from Canstar shows that Darwin mortgagors cost less to live than any of their southern capital cities, while Darwin tenants rank fourth.

CANSTAR analysis looked at mid-home and rental prices as well as annual fees such as groceries, insurance, gasoline, electricity, beer, coffee and takeaway.

The results show that the average Darwin homeowner with a mortgage costs about $59,129 per year.

That’s about 55% of the annual payments paid by Sydney borrowers, with the average cost of living for NSW capital at $104,655.

Next are Brisbane ($78,886), Melbourne ($74,633), Adelaide ($70,830), Perth ($69,790) and Hobart ($59,981).

Incredibly, Darwin residents serve less than rents for their home loans each year, with an average annual figure of $32,849, mortgage repayments are $32,849 and rents are $35,822.

Analysis shows that Darwin’s tenants pay $58,569 in living expenses annually for $58,569, making NT’s capital the fourth most expensive for renters in Sydney ($64,985), Perth ($59,427) and Brisbane ($58,655).

Darren Hunt, Darren Hunt of Real Estate Central Project, said Darwin is an opportunity for home buyers.

“It’s affordable, there’s no transportation, a great lifestyle, it’s a great environment for kids to grow up, especially if you love the outdoors,” he said.

Mr Hunter said Darwin offers a real opportunity for anyone looking to climb the real estate ladder, with the lowest median house price in any capital.

“We’re seeing more and more interstate buyers here, although most are investors,” he said.

“But some people do come to Darwin to start their careers and advance to their careers faster than anywhere else in the country.”

CANSTAR analysis shows that Darwin offers the most wines for wine, almost twice as many as the Hobart characters, and ties with Sydney for the most expensive annual beer cost.

Darwin also ranks number one in the takeaway, content insurance, home and directory insurance and electricity categories.

However, Australia’s northernmost city is the second cheapest city with grocery stores, with a small annual cost difference between all capitals.

CANSTAR research director Sally Tindall said Australia’s most obvious Australian history in 2022 and 2023, with the speed of rapid shooting combined with high inflation greatly promoting the cost of living rising nationwide.

“However, in the face of the cost of living of this double blow, the vast majority of Australian families have amazing resilience throughout Australia’s households,” she said.

“That is, even in the current cycle of cuts, inflation may drop, but that doesn’t mean the cost of most goods and services is getting cheaper now – it just means that their growth is not high.

“If you are a financial slap, stay away from the budget, take action immediately before the dam wall breaks.”

Ms Tyndall said she warned she was reluctant to panic despite many concerns about the impact of Trump’s tariffs on the cost of living.

“It’s too early to say what impact all of this will have in Australia here,” she said.

“If the central bank cannot clearly say what impact the Trump tariff war will have on the cost of living in Australia, it may be wise to take a leaf out of the book and take a treatment approach.”

(Source: canstar.com.au)