A buoyant rental market is giving Katherine's property scene a boost.
For the first time in more than two years, the market is below 40 available rentals, according to Elders Real Estate principal Alison Ross.
Ms Ross was commenting on the June report of financial services company CoreLogic which detailed a 16 per cent price fall in Katherine house prices over the past year.
Ms Ross agreed property prices had fallen, but as much as 20-30 per cent in the past few years.
"There are a lot of factors in that," she said.
"We hit a peak in prices in 2014-15, the bush work dried up and there was an oversupply in rental properties."
According to REINT, CoreLogic's has also listed Katherine as most affordable "suburb" in the NT for prospective buyers, with a median house price of just $345,873.
REINT said Katherine median property values lifted 3.3 per cent in the past year.
Ms Ross said prospective buyers did often ask about the town's PFAS contamination issues, but said it was not putting them off buying.
"It is awesome to see the market on the recovery," she said.
Ms Ross said the rental market had led the recovery.
"Katherine has a lot more going for it right now than Darwin - many people are realising the town offers a great community spirit along with employment opportunities.
"Some buyers are currently commenting on the availability of work and higher income they can secure in Katherine as to the eastern and southern states."
CoreLogic says Darwin's property price falls are nine per cent in the past year but almost 30 per cent since 2017.
Alice Springs fell 8.2 per cent in the past year, CoreLogic says.
This all happens as Katherine properties are being officially revalued.
Katherine's official property valuations are recalculated every three years by the Valuer General which is part of the Department of Infrastructure, Planning and Logistics.
Katherine's properties are to be revalued this year as at July 1.
The 2019 Katherine revaluation will include analysis of sales prices that occurred within the Katherine locality between 2016 and 2019.
The department is conducting sales inspections from this month until September.
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