Suburb Profile Report for The Gap NT (0870)

The Gap House: Median price $400,000, Annual capital growth 6.06%, Number of sales 12, Weekly median advertised rent $450

The Gap Unit: Median price $255,000, Annual capital growth 3.00%, Number of sales 46, Weekly median advertised rent $360

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

Source: CoreLogic

  • House Report
  • Unit Report

Property value increases in The Gap have tracked higher than the NT average of -5.07% over the last 12 months.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in The Gap has fallen somewhat when compared to the 5 year average annual rate.

LACK OF BUYER INTEREST may well be the reason that The Gap is offering property investors an average of -7.55. This rate of discount on properties puts Suburb at number 44th in terms of most discounted suburbs in NT

Situated 1286.19km from the CBD, The Gap is one of Alice Springs localities in the postcode 0870.

Giving property investors a a poor capital gain of -19.69% for the last year, The Gap, 0870 is the 1700th highest performer in Australia in this respect.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in The Gap has fallen somewhat when compared to the 5 year average annual rate.

Property investors looking for a bargain in The Gap should be aiming for at least -5.47% off the asking price, which is the average vendor discount being achieved at the moment.

At number 1354 in a list of fastest selling suburbs, The Gap is in the bottom 10% of suburbs in Australia with an average of days on market 126.66 for properties listed there.

A $360 per week rent on the median house gives suburb investors a gross yield of circa 7.34%, without taking into account capital value appreciation, which has been averaging out at 3.00%.

HOUSE UNIT
$400,000 $255,000
N/A 0.00%
14.94% -19.69%
6.06% 3.00%
$450 $360
12 46
5.85% 7.34%
76.54 126.66

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 1692
Median household income ($/weekly) 1455
Median age of persons 31
Median housing loan repayment ($/monthly) 1733
Average household size 2.2
  • Census Count Percent(%)
    20-24 years 157 9.3
    25-34 years 426 25.2
    35-44 years 294 17.4
    45-54 years 223 13.2
    55-64 years 165 9.7
    Others 428 25.3
    Age Group
    Census Count Percent(%)
    Not Married 589 55.9
    Registered Married 305 28.9
    Defacto Relationship 160 15.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 1019 69.7
    Indonesia 98 6.7
    Papua New Guinea 59 4.0
    United Kingdom 55 3.8
    Other 123 8.4
    Others 108 7.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 51 3.7
    Christianity 874 63.0
    Hinduism 42 3.0
    Other Religious Groups 23 1.7
    No Religion 387 27.9
    Others 11 0.8
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 65 12.7
    $1,250-$1,499 55 10.7
    $1,500-$1,999 85 16.6
    $2,000-$2,499 73 14.3
    $2,500-$2,999 44 8.6
    Others 190 37.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 704 57.9
    Not in the labour force 261 21.5
    Employed, worked part-time 159 13.1
    Employed, away from work 66 5.4
    Unemployed, looking for work 26 2.1
    Person Characteristics
  • Census Count Percent(%)
    Professionals 296 32.0
    Technicians & trades workers 118 12.8
    Community & personal service workers 142 15.4
    Clerical & administrative workers 93 10.1
    Labourers 87 9.4
    Others 188 20.3
    Occupation
    Census Count Percent(%)
    Pre-school 23 7.7
    Infants/Primary 95 32.0
    Secondary 55 18.5
    Technical or Further Educational Institution 40 13.5
    University or other Tertiary Institutions 68 22.9
    Others 16 5.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 666 50.1
    Flat, unit or apartment 517 38.9
    Semi-detached, row or terrace house, townhouse 123 9.3
    Improvised home, tent, sleepers out 23 1.7
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 329 58.1
    Being purchased 178 31.4
    Fully owned 53 9.4
    Other tenure type 6 1.1
    Tenure Type
Census 2011, ABS
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