Giving property investors a a poor capital gain of -9.13% for the last year, Bakewell, 0832 is the 3829th highest performer in Australia in this respect.
A 4.78% growth in median value for property investors in Bakewell,0832 puts this suburb at number 14th in terms of best performing suburbs in NT
LACK OF BUYER INTEREST may well be the reason that Bakewell is offering property investors an average of -7.51. This rate of discount on properties puts Suburb at number 11th in terms of most discounted suburbs in NT
Bakewell is 25th on a list of best yielding suburbs for rents in NT with a 5.17% return
At number 1592th 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 -10.99% recorded in median house prices.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Bakewell has fallen somewhat when compared to the 5 year average annual rate.
Vendor discounting in Bakewell is giving property investors an average Vendor Discount of around -9.11%. This puts suburb at number 6th in NT when ranking the most discounted suburbs.
Residents and property investors in Bakewell have been waiting around 152.69 days to sell a property.
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.