Parap has had a very poor year for property investment returns compared to the rest of NT, giving investors a capital gain of -13.58% to date .
Comparing Parap,0820 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
Property investors looking for a bargain in Parap should be aiming for at least -8.30% off the asking price, which is the average vendor discount being achieved at the moment.
Residents and property investors in Parap have been waiting around 102.42 days to sell a property.
Advertised rents are around the $750 mark per week – giving a return of 5.57% based on the median price in Suburb
NT has seen average median house prices change by -2.10% which means that Parap, 0820 has not done well for property investors by showing a capital gain of 12.10% over the last year
Parap,0820 has offered an average of 12.10% return per annum in house price rises to property investors over the last three years.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Parap, 0820. Typically our figures indicate that -8.30% is being offered, which puts this NT suburb at 163th most discounted overall in Australia.
In the last year 27 properties changed hands in Parap, which puts it as the 11th most active market in NT when comparing the number of sales per suburb.
Parap is around 3km north of the CBD, the same distance south-west of the airport, and practically next door to the beach. Like much of Darwin, its population is growing by around 2% per annum, and residents are typically quite affluent with an estimated weekly income of over $2,000.Full summary
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Parap is around 3km north of the CBD, the same distance south-west of the airport, and practically next door to the beach. Like much of Darwin, its population is growing by around 2% per annum, and residents are typically quite affluent with an estimated weekly income of over $2,000.
There is a small cluster of shops, restaurants, and cafes in the shopping village near Parap Road, with further amenities north at Fannie Bay and as you head towards the CBD. Parap is also home to the Parap Village Markets, which sees stallholders set up a range of cuisines, clothing, jewellery and crafts every Saturday morning.
Houses are slightly more expensive than nearby suburbs. Blocks are relatively large however, and values have also remained robust in a volatile market.
“There is some public debate in Darwin at present about the merits of infill development and higher density in inner suburbs as opposed to furthering the urban sprawl,” explains Terry Roth, director of Herron Todd White NT Roth.
“Larger blocks in inner city suburbs like Parap may have some potential for more rezoning and subdivision to increase population density on the peninsula. Such blocks will be priced at around the $750,000 ceiling.”