If you compare the increase in value of investment property in Gillen, 0870 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this NT suburb was 0.71%.
If we look at median property appreciation over just the last three months, Gillen has given property investors a paper return of 3.03%. This puts Suburb as 4 on a list of fastest fasting appreciating suburbs in NT
Property investors looking for a bargain in Gillen should be aiming for at least -4.52% off the asking price, which is the average vendor discount being achieved at the moment.
In the last year 54 properties changed hands in Gillen, which puts it as the 4th most active market in NT when comparing the number of sales per suburb.
Using the current median advertised rental of $500 and the average annual increase in value of a median property of 4.57%, investors should hope to achieve an overall return of 6.12%
With a capital gain of 24.71% for the last 12 months, Gillen, 0870 has performed for property investments than its average annual 5.51% property growth over the last 5 years.
Taking the average capital gain, or increase in median house value, Gillen,0870 has racked up an average of 24.71% over the period. This ranks it number 1380th in the whole country for real estate investors looking at median house price increases.
Gillen0870 is located in NT which offers an average discount of -8.16% to property investors. Gillen itself is showing figures that indicate -5.73% is the average achievable by property buyers investing in the suburb.
In the last year 27 properties changed hands in Gillen, which puts it as the 9th most active market in NT when comparing the number of sales per suburb.
A $380 per week rent on the median house gives suburb investors a gross yield of circa 6.21%, without taking into account capital value appreciation, which has been averaging out at 5.51%.