Suburb Profile Report for Gunn NT (0832)

Gunn House: Median price $505,000, Annual capital growth 4.75%, Number of sales 33, Weekly median advertised rent $520

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

Source: CoreLogic

  • House Report
  • Expert Report

Investment property in Gunn 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 -6.05%

The five-year average increase in median property values for Gunn,0832 has given property investors a potential capital gain of -4.90% across each of those five years.

Gunn0832 is located in NT which offers an average discount of -7.66% to property investors. Gunn itself is showing figures that indicate -5.56% is the average achievable by property buyers investing in the suburb.

Often selling an investment property can take time, and in Gunn the average time real estate has been on the market is 90.78 days.

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While Gunn prices are relatively high for Palmerston, demand for property is good, with data from realestate.com.au estimating that there are 11 people searching for every one property available. With high demand and significant population growth, there’s certainly potential for more growth in the future.Full summary

The suburb of Gunn is situated in the heart of Palmerston, the second largest city in the Northern Territory and a satellite city to Darwin. Although it’s 23km south of Darwin’s CBD, it’s within close proximity to the main connecting highway.      

Gunn is within walking distance of a number of parks, lakes sports club and other amenities within the Palmerston local area. It’s also minutes from the Palmerston CBD which includes shopping centres, a cinema complex. 

Not surprisingly, houses dominate the market: there may also be opportunities for value-adding, given a number developments were constructed in the mid-1970s following the advent of Cyclone Tracy and may not be in need of refreshment. 

While prices are relatively high for Palmerston, demand for property is still high, with data from realestate.com.au estimating that 11 people are searching per property available. With high demand and significant population growth – Palmerston’s population increased by around a third between 2005 and 2009- there’s certainly potential for more growth in the future. 

The average gross rental yield is 5%, on-par with surrounding suburbs and vacancy rates are balanced at 3.3%. Prime locations in Gunn are south-west of the suburb, due to proximity to local parks, schools and retail amenities.

Close
HOUSE UNIT
$505,000 N/A
-4.72% N/A
-6.05% N/A
4.75% N/A
$520 N/A
33 N/A
5.35% N/A
90.78 N/A

Source: CoreLogic

DSR Score for property investment : Balanced (H), Balanced (U)
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Demographics
Total population 2638
Median household income ($/weekly) 2156
Median age of persons 28
Median housing loan repayment ($/monthly) 2600
Average household size 3
  • Census Count Percent(%)
    0-4 years 277 10.5
    5-14 years 422 16.0
    25-34 years 530 20.1
    35-44 years 442 16.7
    45-54 years 314 11.9
    Others 654 24.8
    Age Group
    Census Count Percent(%)
    Registered Married 830 47.5
    Not Married 558 31.9
    Defacto Relationship 361 20.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 2116 82.8
    Papua New Guinea 49 1.9
    Philippines 59 2.3
    United Kingdom 108 4.2
    Other 67 2.6
    Others 158 6.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 54 2.2
    Christianity 1507 61.8
    Islam 13 0.5
    Other Religious Groups 15 0.6
    No Religion 843 34.6
    Others 6 0.2
    Religious Affiliation
  • Census Count Percent(%)
    $1,250-$1,499 73 9.7
    $1,500-$1,999 127 16.9
    $2,000-$2,499 125 16.6
    $2,500-$2,999 103 13.7
    $3,000-$3,499 97 12.9
    Others 226 30.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1175 62.8
    Employed, worked part-time 281 15.0
    Not in the labour force 248 13.3
    Employed, away from work 131 7.0
    Unemployed, looking for work 35 1.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 214 13.5
    Professionals 218 13.7
    Technicians & trades workers 244 15.4
    Community & personal service workers 307 19.3
    Clerical & administrative workers 273 17.2
    Others 333 21.0
    Occupation
    Census Count Percent(%)
    Pre-school 38 5.8
    Infants/Primary 294 44.7
    Secondary 184 28.0
    Technical or Further Educational Institution 30 4.6
    University or other Tertiary Institutions 91 13.8
    Others 21 3.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2497 98.5
    Semi-detached, row or terrace house, townhouse 38 1.5
    Flat, unit or apartment 0 0.0
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 435 51.8
    Being purchased 337 40.1
    Fully owned 68 8.1
    Other tenure type 0 0.0
    Tenure Type
Census 2011, ABS
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Recent sales & rentals