Property investors who have had real estate in Jingili, 0810 should be unhappy with this NT suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -7.84%
Across a shorter period, Jingili, 0810 has seen a median price increase of -6.96% over the last quarter.
State is the 2nd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -7.55% offered to property buyers. Sellers in Jingili itself are offering an average vendor discount of -6.30% to real estate investors.
With the median price for a house in Jingili being $535000 and the advertised rent reaching $500 the gross rental yield for property investors calculates out to be 4.86%
A neighbourhood that endeavours to demonstrate Darwin’s ‘live, work and play’ motto, the suburb of Jingili has an abundance of community facilities and recreational services.Full summary
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A neighbourhood that endeavours todemonstrate Darwin’s ‘live, work and play’ motto, the suburb of Jingili has an abundance of community facilities and recreational services.Close
Its growth in recent years indicates its popularity with buyers, who are attracted to the large lot sizes and Jingili’s proximity to Darwin, the airport, the university and beaches.
Situated 12km north of the capital city, which is an easy commute via the Orbital Link express bus routes, Jingili is a hotspot for workers seeking to upgrade to larger homes, or migrating from eastern states. Casuarina Square, the largest shopping centre in the NT, is a drawcard mere streets from Jingili, luring buyers to the older northern suburbs and away from the newer southern neighbourhoods of Palmerston.
Darwin’s mining industry has caused a boom in housing demand in recent years, although the past 12 months have seen values stall.
Buyers have taken advantage of the plateau in prices, with Jingili recording its highest number of transactions in the same time period.
The NT’s generous first home buyer grants are attracting young buyers into the housing market, and Jingili’s family-sized detached homes are relatively affordable at a median price of $590,000.