If you compare the increase in value of investment property in Bakewell, 0832 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this NT suburb was -6.86%.
Property buyers and investors in Bakewell 0832 should be seeing an average reduction in asking price of around -8.54% . This means that Bakewell is holding prices well when compared to other suburbs in NT.
Advertised rents are around the $480 mark per week – giving a return of 5.25% based on the median price in Suburb
Giving property investors a a poor capital gain of -18.08% for the last year, Bakewell, 0832 is the 1671th highest performer in Australia in this respect.
Comparing Bakewell,0832 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
Bakewell, 0832 is offering NT ‘s 8th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this NT.
In the last year 24 properties changed hands in Bakewell, which puts it as the 13th most active market in NT when comparing the number of sales per suburb.
Property investors should expect to get $350 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.