Suburb Profile Report for Katherine NT (0850)

Katherine House: Median price $395,000, Annual capital growth 8.36%, Number of sales 40, Weekly median advertised rent $450

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

Source: CoreLogic

  • House Report
  • Expert Report

Katherine, 0850 ranked 14th in NT when comparing growth in median property values or capital gain over the last 12 months. Katherine is one of 124 in our list for NT

Katherine,0850 was ranked 2547 in Australia by increase in median property value over the quarter.

State is the 2nd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -7.66% offered to property buyers. Sellers in Katherine itself are offering an average vendor discount of -8.08% to real estate investors.

Situated 270.94km from the CBD, Katherine is one of Katherine localities in the postcode 0850.

Information supplied by:




M
O

W
E
About 300km inland along the banks of its namesake river, Katherine is fast becoming a hotspot for property investment in the Northern Territory.Full summary

About 300km inland along the banks of its namesake river, Katherine is fast becoming a hotspot for property investment in the Northern Territory. 

Katherine is supported by a vast and well-established economy. Agriculture, mining, and defence are thriving industries in the township, while the area’s ancient limestone formations and subterranean caves keep a strong tourism industry afloat. A recent report by Tourism Research Australia found that a total of 308,000 people visited the region in 2009/10, pumping $93m into the local economy. 

From an investor’s perspective, the town offers strong growth and high returns. In the four years to 2009, Katherine’s population increased 4% to 10,095, according to ABS estimates. Incomes in the area are also on the rise, increasing by $3,746 between 2005 and 2008 to $41,985, using ABS estimates. 

The median house prices is affordable at well under $400,000. Katherine also offers investors high rental yields of 6% or more, with extremely tight vacancy rates that have remained below 1% for over five years, according to SQM Research. 

Government plans to release blocks of land for housing development are in the pipeline, but concerns relating to Aboriginal land rights issues and flood-prone areas are yet to be resolved. 

Nevertheless, local Elders sales specialist Alison Ross says Katherine’s rental market has enjoyed steady growth over the last ten years. 

“With government departments providing a subsidised rental for staff, it is expected the rental market in Katherine will sustain its current level,” Ross said.

Close
HOUSE UNIT
$395,000 N/A
-0.25% N/A
-0.63% N/A
8.36% N/A
$450 N/A
40 N/A
5.92% N/A
121.3 N/A

Source: CoreLogic

DSR Score for property investment : Balanced (U), Balanced (H)
Find a mortgage broker in Katherine NT
Demographics
Total population 1376
Median household income ($/weekly) 1419
Median age of persons 37
Median housing loan repayment ($/monthly) 1517
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 144 10.5
    25-34 years 218 15.8
    35-44 years 187 13.6
    45-54 years 227 16.5
    55-64 years 178 12.9
    Others 422 30.7
    Age Group
    Census Count Percent(%)
    Not Married 360 43.6
    Registered Married 314 38.0
    Defacto Relationship 152 18.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 1004 81.1
    Indonesia 30 2.4
    Papua New Guinea 30 2.4
    United Kingdom 48 3.9
    Other 46 3.7
    Others 80 6.5
    Country of Birth
    Census Count Percent(%)
    Christianity 824 69.2
    No Religion 344 28.9
    Islam 9 0.8
    Buddhism 7 0.6
    Other Religious Groups 6 0.5
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 32 8.1
    $1,250-$1,499 36 9.1
    $1,500-$1,999 53 13.4
    $2,000-$2,499 36 9.1
    $2,500-$2,999 56 14.2
    Others 182 46.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 565 55.4
    Not in the labour force 253 24.8
    Employed, worked part-time 127 12.5
    Employed, away from work 53 5.2
    Unemployed, looking for work 22 2.2
    Person Characteristics
  • Census Count Percent(%)
    Managers 89 12.0
    Professionals 164 22.0
    Technicians & trades workers 109 14.7
    Community & personal service workers 89 12.0
    Clerical & administrative workers 105 14.1
    Others 188 25.3
    Occupation
    Census Count Percent(%)
    Pre-school 20 8.3
    Infants/Primary 82 34.0
    Secondary 63 26.1
    Technical or Further Educational Institution 14 5.8
    University or other Tertiary Institutions 54 22.4
    Others 8 3.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 870 82.0
    Semi-detached, row or terrace house, townhouse 119 11.2
    Flat, unit or apartment 17 1.6
    Caravan, cabin, houseboat 21 2.0
    Improvised home, tent, sleepers out 19 1.8
    Others 15 1.4
    Dwelling Structure
    Census Count Percent(%)
    Rented 230 52.9
    Being purchased 115 26.4
    Fully owned 81 18.6
    Other tenure type 9 2.1
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals