Bakewell, 0832 ranked 25th in NT when comparing growth in median property values or capital gain over the last 12 months. Bakewell is one of 124 in our list for NT
Bakewell,0832 has offered an average of -2.65% 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 -7.59% to property investors. Bakewell itself is showing figures that indicate -8.12% is the average achievable by property buyers investing in the suburb.
Bakewell is 27th on a list of best yielding suburbs for rents in NT with a 5.18% return
At number 1659th in the list of Australian suburbs ordered by increase in median house value over the last year, Bakewell, 0832 is in the BOTTOM 10% with a property value increase of -16.46% recorded in median house prices.
Comparing Bakewell,0832 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
The most recent median price for Bakewell is $317450, with sellers offering an average of -9.00% off the asking price.
A $370 per week rent on the median house gives suburb investors a gross yield of circa 6.06%, without taking into account capital value appreciation, which has been averaging out at 5.14%.
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.