Gunn is an average performer in NT when comparing median price capital growth over the last year. Gunn gave property investors a average capital gain figure when compared to the rest of the state, with -6.98%.
A -3.66% growth in median value for property investors in Gunn,0832 puts this suburb at number 33th in terms of best performing suburbs in NT
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 Gunn itself are offering an average vendor discount of -5.69% to real estate investors.
Often selling an investment property can take time, and in Gunn the average time real estate has been on the market is 90.35 days.
Situated 16.71km from the CBD, Gunn is one of Palmerston localities in the postcode 0832.
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.