Giving property investors a a poor capital gain of -2.78% for the last year, Bakewell, 0832 is the 3377th highest performer in Australia in this respect.
Over the longer term, Bakewell has seen property prices show investors a -6.44% return over the last 3 years. This is an improvement over the last 12 months
The most recent median price for Bakewell is $490000, with sellers offering an average of -8.00% off the asking price.
Bakewell is 34th on a list of best yielding suburbs for rents in NT with a 4.99% return
At number 1447th in the list of Australian suburbs ordered by increase in median house value over the last year, Bakewell, 0832 is in the BOTTOM 20% with a property value increase of -5.90% recorded in median house prices.
Sellers are offering property buyers an average discount of -9.51% to buyers in Bakewell at the moment, which is less than average for the rest of NT.
On average over the past year, suburb has had 2.00 sales per month, which equates to 24 per year.
Bakewell is 4th on a list of best yielding suburbs for rents in NT with a 6.52% return
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.