Property value increases in Karama have tracked lower than the NT average of -5.07% over the last 12 months.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Karama has increased when compared to the 5 year average annual rate.
Vendor discounting in Karama is giving property investors an average Vendor Discount of around -8.63%. This puts suburb at number 10th in NT when ranking the most discounted suburbs.
At number 2552 in a list of fastest selling suburbs, Karama is in the bottom 40% of suburbs in Australia with an average of days on market 98.5 for properties listed there.
Using the current median advertised rental of $485 and the average annual increase in value of a median property of 4.47%, investors should hope to achieve an overall return of 5.24%
Over the last year, property investments in Karama, 0812 have given investors a capital gain of 0.00%. This compares favourably with the -3.63% for NT as a whole.
Situated 14km from the Darwin CBD, Karama is one of the capital city’s northern suburbs with plenty of potential for investorsFull summary
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Situated 14km from the Darwin CBD, Karama is one of the capital city’s northern suburbs with plenty of potential for investors.Close
For one, it already has access to excellent amenities.
Families and young couples won’t mind the fact that it takes 15 minutes to get to the city because there are plenty of shopping, dining and education options in Karama itself.
This includes the handy Karama Shopping Centre, but it is also just a short drive to Casuarina Square, which is the largest shopping centre in the Northern Territory.
As well as there being lots of schools located in the suburb, it also boasts plenty of parks and the Marrara Sporting Complex.
The tight demand in the suburb is indicated by the vacancy rate of just 2.02%, according to Real Estate Investar.
And its median house price of $567,000 is cheaper than neighbouring suburbs such as Leanyer ($615,000).
The rental yield of 5% is also not too shabby.
There are large houses on large blocks which are ideal for families on the quiet streets of Bernier Ct and Baudin Ct.
Three- or four-bedroom houses can be picked up on these streets for less than $550,000.
Properties in this area are close to bus services and are only minutes from the Casuarina Shopping Centre, schools, medical facilities and the beach.