Suburb Profile Report for Malak NT (0812)

Malak House: Median price $545,000, Annual capital growth 5.00%, Number of sales 29, Weekly median advertised rent $500

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Expert Report

Investment property in Malak has done pretty 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 0.93%

If we look at median property appreciation over just the last three months, Malak has given property investors a paper return of 1.40%. This puts Suburb as 9 on a list of fastest fasting appreciating suburbs in NT

Property investors looking for a bargain in Malak should be aiming for at least -7.23% off the asking price, which is the average vendor discount being achieved at the moment.

At number 2976 in a list of fastest selling suburbs, Malak is in the bottom 30% of suburbs in Australia with an average of days on market 112.5 for properties listed there.

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Finding a suburb at the 'bottom' in Darwin is akin to trying to find a needle in a haystack, not least due to demand and supply pressures. Admittedly, Malak – just 9km northeast of the CBD as the crow flies – has experienced growth in the last few years that would make investors with properties in southern capitals green with envy. Even so, by Darwin's standards, it's been a slow burner. Full summary

Finding a suburb at the 'bottom' in Darwin is akin to trying to find a needle in a haystack, not least due to demand and supply pressures. Admittedly, Malak – just 9km northeast of the CBD as the crow flies – has experienced growth in the last few years that would make investors with properties in southern capitals green with envy. Even so, by Darwin's standards, it's been a slow burner.

The suburb itself offers easy access to the airport – which is the other side of McMillans Road – and Darwin proper. It's also within easy reach of Rapid Creek, Dripstone Park and the coast. Amenity-wise, it's fairly bare, albeit with a Coles, takeaways and restaurants on McMillans Road, and a few small schools smattered around the suburb.

Where it does come up trumps, however, is affordability. Units tend to be signficantly cheaper than nearby suburbs like Karama and Marrara.

This affordability, relatively subdued growth and high yields make Malak a very likely candidate to experience further capital growth – given Darwin's supply issues, population growth and ever-increasing incomes.

Close
Metrics i HOUSE UNIT
$545,000 N/A
1.40% N/A
0.93% N/A
5.00% N/A
$500 N/A
29 N/A
4.77% N/A
112.5 N/A

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
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Demographics
Total population 3309
Median household income ($/weekly) 1647
Median age of persons 33
Median housing loan repayment ($/monthly) 1860
Average household size 3
  • Census Count Percent(%)
    5-14 years 518 15.7
    25-34 years 469 14.2
    35-44 years 475 14.4
    45-54 years 506 15.3
    55-64 years 381 11.5
    Others 960 29.0
    Age Group
    Census Count Percent(%)
    Not Married 989 47.5
    Registered Married 828 39.8
    Defacto Relationship 263 12.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 2104 75.0
    Iraq 60 2.1
    Philippines 99 3.5
    United Kingdom 97 3.5
    Other 201 7.2
    Others 245 8.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 107 3.9
    Christianity 1774 64.6
    Islam 55 2.0
    Other Religious Groups 26 0.9
    No Religion 768 28.0
    Others 15 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $1,250-$1,499 70 8.4
    $1,500-$1,999 127 15.3
    $2,000-$2,499 104 12.5
    $2,500-$2,999 80 9.6
    $3,000-$3,499 60 7.2
    Others 389 46.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1049 48.6
    Not in the labour force 566 26.2
    Employed, worked part-time 347 16.1
    Employed, away from work 116 5.4
    Unemployed, looking for work 80 3.7
    Person Characteristics
  • Census Count Percent(%)
    Professionals 247 16.3
    Technicians & trades workers 230 15.2
    Community & personal service workers 191 12.6
    Clerical & administrative workers 294 19.5
    Labourers 160 10.6
    Others 389 25.7
    Occupation
    Census Count Percent(%)
    Pre-school 60 7.7
    Infants/Primary 264 33.8
    Secondary 254 32.5
    Technical or Further Educational Institution 43 5.5
    University or other Tertiary Institutions 132 16.9
    Others 29 3.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2350 82.5
    Flat, unit or apartment 294 10.3
    Semi-detached, row or terrace house, townhouse 191 6.7
    Improvised home, tent, sleepers out 7 0.2
    Caravan, cabin, houseboat 6 0.2
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 386 41.8
    Rented 365 39.5
    Fully owned 165 17.9
    Other tenure type 8 0.9
    Tenure Type
Census 2011, ABS
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Recent sales & rentals