Suburb Profile Report for Bakewell NT (0832)

Bakewell House: Median price $475,000, Annual capital growth 5.17%, Number of sales 26, Weekly median advertised rent $490

Bakewell Unit: Median price $300,000, Annual capital growth 4.21%, Number of sales 21, Weekly median advertised rent $370

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Bakewell is in the bottom 30% in NT when comparing median price capital growth over the last year. Bakewell gave property investors a disappointing capital gain figure when compared to the rest of the state, with -10.38%.

Across a shorter period, Bakewell, 0832 has seen a median price increase of -7.14% over the last quarter.

State is the 2nd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -7.62% offered to property buyers. Sellers in Bakewell itself are offering an average vendor discount of -8.45% to real estate investors.

Situated 16.95km from the CBD, Bakewell is one of Palmerston localities in the postcode 0832.

With a capital gain of -17.81% for the last 12 months, Bakewell, 0832 has performed for property investments than its average annual 4.21% property growth over the last 5 years.

LACK OF BUYER INTEREST may well be the reason that Bakewell is offering property investors an average of -9.32. This rate of discount on properties puts Suburb at number 6th in terms of most discounted suburbs in NT

On average over the past year, suburb has had 1.75 sales per month, which equates to 21 per year.

Bakewell, 0832’s gross rental yield is 6.41%

Information supplied by:




M
O

W
E
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
$475,000 $300,000
-7.14% N/A
-10.38% -17.81%
5.17% 4.21%
$490 $370
26 21
5.36% 6.41%
125.93 94.46

Source: CoreLogic

DSR Score for property investment : Below average (H), Poor (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
Chart Table
Recent sales & rentals