At number 3886th in the list of Australian suburbs ordered by increase in median house value over the last year, Gunn, 0832 is in the BOTTOM 10% with a property value increase of -9.62% recorded in median house prices.
Comparing Gunn,0832 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
LACK OF BUYER INTEREST may well be the reason that Gunn is offering property investors an average of -7.47. This rate of discount on properties puts Suburb at number 30th in terms of most discounted suburbs in NT
Using the current median advertised rental of $500 and the average annual increase in value of a median property of 3.53%, investors should hope to achieve an overall return of 5.43%
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
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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.