Investment property in Larrakeyah has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -10.41%
Taking the average capital gain, or increase in median house value, Larrakeyah,0820 has racked up an average of -10.41% over the period. This ranks it number 1525th in the whole country for real estate investors looking at median house price increases.
Sellers are offering property buyers an average discount of -11.63% to buyers in Larrakeyah at the moment, which is less than average for the rest of NT.
Using the current median advertised rental of $485 and the average annual increase in value of a median property of 2.50%, investors should hope to achieve an overall return of 6.00%
Situated within Darwin’s inner city, the popular coastal suburb of Larrakeyah – which is surrounded on three sides by the ocean – saw apartment supply increase from 53 to 68 in the year leading to April 2018Full summary
Information supplied by:
Unit supply on the up
Median unit price: $467,311.5
Stock on market: 19.4%
12-month growth: -8.8%
Situated within Darwin’s inner city, the popular coastal suburb of Larrakeyah – which is surrounded on three sides by the ocean – saw apartment supply increase from 53 to 68 in the year leading to April 2018.
Prices continued to trend downwards by 8.8%, causing the median value to slip below $470,000. Returns are strong at an average of 5.5%, but the outlook is not positive for this suburb; as with most suburbs in Darwin, growth prospects are considered extremely limited.
Larrakeyah is primarily composed of the Larrakeyah Barracks, which houses the Australian Defence Force and includes the Naval Base of the HMAS Coonawarra. Larrakeyah Terrace contains a park that faces the harbour. The suburb is close to a number of Darwin’s tourist spots, including Cullen Bay, Mindil Beach and the George Brown Botanical Gardens.Close