Property value increases in Bakewell have tracked just lower than the NT average of -4.64% over the last 12 months.
While Bakewell,0832 ranked number 25th in NT for increase in median house value (annualised) increase, it is ranked 22th over the last 5 years.
Our latest figures would indicate that property sellers in Bakewell are currently offering property investors an average price cut of -8.24% below the asking price at the moment.
Often selling an investment property can take time, and in Bakewell the average time real estate has been on the market is 129.85 days.
Situated 16.90km from the CBD, Bakewell is one of Palmerston localities in the postcode 0832.
Bakewell has had a pretty average year for property investment returns compared to the rest of NT, giving investors a capital gain of -9.75% to date .
Bakewell,0832 has offered an average of -9.75% return per annum in house price rises to property investors over the last three years.
LACK OF BUYER INTEREST may well be the reason that Bakewell is offering property investors an average of -8.62. This rate of discount on properties puts Suburb at number 6th in terms of most discounted suburbs in NT
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
Information supplied by:
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.