Bakewell has had a pretty average year for property investment returns compared to the rest of NT, giving investors a capital gain of -4.90% to date .
Bakewell,0832 has offered an average of -4.90% return per annum in house price rises to property investors over the last three years.
Property buyers and investors in Bakewell 0832 should be seeing an average reduction in asking price of around -7.96% . This means that Bakewell is holding prices well when compared to other suburbs in NT.
At number 3141 in a list of fastest selling suburbs, Bakewell is in the bottom 20% of suburbs in Australia with an average of days on market 120.03 for properties listed there.
Advertised rents are around the $480 mark per week – giving a return of 5.15% based on the median price in Suburb
With a capital gain of -19.86% for the last 12 months, Bakewell, 0832 has performed for property investments than its average annual 3.27% property growth over the last 5 years.
Bakewell,0832 has offered an average of -19.86% return per annum in house price rises to property investors over the last three years.
Bakewell0832 is located in NT which offers an average discount of -8.57% to property investors. Bakewell itself is showing figures that indicate -8.84% is the average achievable by property buyers investing in the suburb.
Property investors should expect to get $360 weekly from the median priced house in this suburb.
Average annual growth in Bakewell over the past 10 years has been phenomenal. Situated about 25km south-east of the Darwin CBD, it could be ripe for the picking as an investment choice.Full summary
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Average annual growth in Bakewell over the past 10 years has been phenomenal. Situated about 25km south-east of the Darwin CBD, it could be ripe for the picking as an investment choice.
Bakewell is a family-friendly area in Palmerston with a number of public parks, primary and secondary schools and day-care facilities. It’s close to the Stuart Highway, making Darwin proper only a half-hour drive away; regular bus services also operate throughout the area.
Elders Real Estate Palmerston residential sales consultant Sue Cox, says there’s a big rental market in Bakewell, which she only expects to grow.
“Because it’s got bigger blocks than say the Gunns and Duracks of Palmerston, it’s attracted a lot of people,” she says. “Instead of being stuck on a 400 square-metre block, you’re on a 700 square-metre block which is much more family and pet-oriented. It’s a great suburb.”
Bakewell’s relative affordability compared to neighbouring suburbs will also appeal to investors. The median house price in nearby Rosebery, for example, is close to $80,000 higher than that of Bakewell.
It’s also an area with a young and wealthy demographic. The latest ABS estimates put 64.6% of the population in the 0-34 year age bracket, while Census data shows an average weekly family income of $1,519 – well above the territory average of $1,217.
“It was known for a little while as your first home buyers’ market but, in saying that, the suburb has strengthened and deepened with age, and you’ve got a good variety in there,” says Cox.