Alawa has had a pretty average year for property investment returns compared to the rest of NT, giving investors a capital gain of -3.09% to date .
Across a shorter period, Alawa, 0810 has seen a median price increase of -1.17% over the last quarter.
Vendor discounting in Alawa is giving property investors an average Vendor Discount of around -7.06%. This puts suburb at number 15th in NT when ranking the most discounted suburbs.
At number 649 in a list of fastest selling suburbs, Alawa is in the TOP 20% of suburbs in Australia with an average of days on market 55.9286 for properties listed there.
Advertised rents are around the $455 mark per week – giving a return of 5.58% based on the median price in Suburb
Information supplied by:
Rental activity picks up
Median house price: $456,500
Rental vacancy rate: 7.4%
Three-year growth: -19.2%
Situated north of Darwin, the suburb of Alawa was established in the late 1960s and named for the Aboriginal tribe that lived on the southern tributaries.
Alawa is bordered by Dripstone Road and Rapid Creek. At its boundary via the suburb’s connection to Lakeside Drive is the Casuarina shopping centre, providing much convenience to its residents. In additon, Alawa contains its own shopping hub, along with a primary school.
The suburb continues its downward trend in the August 2017-2018 period, with house prices plummeting by 15.5% to hit a median of just over $450,000. While the situation looks dire for investors seeking capital gain, rentals are picking up – the vacancy rate fell sharply from 9.7% in August 2017 to 7.4% a year on. The weekly average rent clocks in at $460, generating 5.2% yield on average.