Bakewell has had a pretty good year for property investment returns compared to the rest of NT, giving investors a capital gain of -2.32% to date .
Bakewell0832 is located in NT which offers an average discount of -7.24% to property investors. Bakewell itself is showing figures that indicate -7.48% is the average achievable by property buyers investing in the suburb.
Property investors who have had real estate in Bakewell, 0832 should be relatively 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 -3.00%
Taking the average capital gain, or increase in median house value, Bakewell,0832 has racked up an average of -3.00% over the period. This ranks it number 1708th in the whole country for real estate investors looking at median house price increases.
State is the 2nd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -8.25% offered to property buyers. Sellers in Bakewell itself are offering an average vendor discount of -9.51% to real estate investors.
Renters in Suburb are facing rents around $4200 per annum or $350 every week.
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.