Investment property in Gunn has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -10.38%
Over the longer term, Gunn has seen property prices show investors a -19.63% return over the last 3 years. This is an improvement over the last 12 months
LACK OF BUYER INTEREST may well be the reason that Gunn is offering property investors an average of -7.24. This rate of discount on properties puts Suburb at number 22th in terms of most discounted suburbs in NT
Advertised rents are around the $500 mark per week – giving a return of 5.47% based on the median price in Suburb
A budget of $500-600,000 will secure you a good quality three or four bedroom home set amongst leafy streets.Full summary
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Palmerston suburb works to avoid excess supply
Median house price: $479,000
Stock on market: -17.80%
12-month growth: -18.47%
Boasting family homes with big backyards, this popular inner suburb of Palmerston – a satellite city located around 30 minutes’ drive (or 23km) from Darwin – is growing in popularity.
A budget of $500-600,000 will secure you a good quality three or four bedroom home set amongst leafy streets. These types of properties will readily return a yield of 5%-plus, where families are keen to live within close proximity to the local schools and the Palmerston CBD, which is a 10-minute drive.
In response to the Northern Territory’s downward slide, Gunn is aiming to minimise expenditures and avoid oversupply by limiting the number of properties on the market. Thus, stock fell by almost 18% in the past 12 months.