Suburb Profile Report for Bakewell NT (0832)

Bakewell House: Median price $477,500, Annual capital growth 4.40%, Number of sales 33, Weekly median advertised rent $480

Bakewell Unit: Median price $289,750, Annual capital growth 2.85%, Number of sales 25, Weekly median advertised rent $350

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Bakewell has had a pretty average year for property investment returns compared to the rest of NT, giving investors a capital gain of -5.45% to date .

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Bakewell has increased when compared to the 5 year average annual rate.

Property buyers and investors in Bakewell 0832 should be seeing an average reduction in asking price of around -8.31% . This means that Bakewell is holding prices well when compared to other suburbs in NT.

On average over the past year, suburb has had 2.75 sales per month, which equates to 33 per year.

Using the current median advertised rental of $480 and the average annual increase in value of a median property of 4.40%, investors should hope to achieve an overall return of 5.23%

Investment property in Bakewell has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -17.80%

Taking the average capital gain, or increase in median house value, Bakewell,0832 has racked up an average of -17.80% over the period. This ranks it number 1692th in the whole country for real estate investors looking at median house price increases.

Property buyers and investors in Bakewell 0832 should be seeing an average reduction in asking price of around -9.34% . This means that Bakewell is holding prices well when compared to other suburbs in NT.

The NT suburb of Bakewell, 0832 is in the Palmerston local government area.

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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.Full summary

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.

Close
HOUSE UNIT
$477,500 $289,750
-0.52% -3.42%
-5.45% -17.80%
4.40% 2.85%
$480 $350
33 25
5.23% 6.28%
125.1 116

Source: CoreLogic

DSR Score for property investment : Below average (H), Below average (U)
Find a mortgage broker in Bakewell NT
Demographics
Total population 3191
Median household income ($/weekly) 1745
Median age of persons 29
Median housing loan repayment ($/monthly) 2045
Average household size 2.7
  • Census Count Percent(%)
    0-4 years 315 9.9
    5-14 years 485 15.2
    20-24 years 305 9.6
    25-34 years 665 20.8
    35-44 years 571 17.9
    Others 850 26.6
    Age Group
    Census Count Percent(%)
    Not Married 900 42.8
    Registered Married 740 35.2
    Defacto Relationship 462 22.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 2472 83.7
    Papua New Guinea 64 2.2
    Philippines 100 3.4
    United Kingdom 107 3.6
    Other 61 2.1
    Others 150 5.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 52 1.9
    Christianity 1728 61.5
    Hinduism 27 1.0
    Islam 18 0.6
    No Religion 967 34.4
    Others 17 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 91 9.3
    $1,250-$1,499 118 12.0
    $1,500-$1,999 167 17.0
    $2,000-$2,499 163 16.6
    $2,500-$2,999 112 11.4
    Others 330 33.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1379 61.6
    Not in the labour force 352 15.7
    Employed, worked part-time 296 13.2
    Employed, away from work 153 6.8
    Unemployed, looking for work 57 2.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 167 9.1
    Professionals 227 12.4
    Technicians & trades workers 351 19.2
    Community & personal service workers 234 12.8
    Clerical & administrative workers 350 19.1
    Others 501 27.4
    Occupation
    Census Count Percent(%)
    Pre-school 61 8.4
    Infants/Primary 304 41.8
    Secondary 186 25.5
    Technical or Further Educational Institution 53 7.3
    University or other Tertiary Institutions 99 13.6
    Others 25 3.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1897 64.9
    Flat, unit or apartment 625 21.4
    Semi-detached, row or terrace house, townhouse 403 13.8
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 565 51.7
    Rented 455 41.7
    Fully owned 68 6.2
    Other tenure type 4 0.4
    Tenure Type
Census 2011, ABS
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Recent sales & rentals