Suburb Profile Report for Larrakeyah NT (0820)

Larrakeyah Unit: Median price $440,000, Annual capital growth 2.76%, Number of sales 46, Weekly median advertised rent $470

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

Investment property in Larrakeyah has done pretty 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 -5.84%

Larrakeyah,0820 has offered an average of -5.84% return per annum in house price rises to property investors over the last three years.

State is the most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -9.54% offered to property buyers. Sellers in Larrakeyah itself are offering an average vendor discount of -11.88% to real estate investors.

On average over the past year, suburb has had 3.83 sales per month, which equates to 46 per year.

Larrakeyah is 18th on a list of best yielding suburbs for rents in NT with a 5.55% return

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July 2018

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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

Unit supply on the up

Postcode: 0820

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.

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Metrics i HOUSE UNIT
N/A $440,000
N/A -0.56%
N/A -5.84%
N/A 2.76%
N/A $470
N/A 46
N/A 5.55%
N/A 162.29

Source: CoreLogic

DSR Score for property investment : Below average (H), Balanced (U)
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Demographics
Total population 3242
Median household income ($/weekly) 2212
Median age of persons 33
Median housing loan repayment ($/monthly) 2300
Average household size 2.3
  • Census Count Percent(%)
    20-24 years 293 9.0
    25-34 years 886 27.3
    35-44 years 455 14.0
    45-54 years 478 14.7
    55-64 years 380 11.7
    Others 752 23.2
    Age Group
    Census Count Percent(%)
    Not Married 943 44.5
    Registered Married 812 38.4
    Defacto Relationship 362 17.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 1893 66.7
    Papua New Guinea 110 3.9
    Philippines 62 2.2
    United Kingdom 182 6.4
    Other 166 5.9
    Others 423 14.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 89 3.3
    Christianity 1592 58.9
    Hinduism 56 2.1
    Islam 31 1.1
    No Religion 908 33.6
    Others 27 1.0
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 148 14.9
    $2,000-$2,499 127 12.8
    $2,500-$2,999 164 16.5
    $3,000-$3,499 102 10.3
    $4,000 or more 104 10.5
    Others 350 35.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1522 61.4
    Not in the labour force 408 16.5
    Employed, worked part-time 347 14.0
    Employed, away from work 141 5.7
    Unemployed, looking for work 60 2.4
    Person Characteristics
  • Census Count Percent(%)
    Managers 385 19.2
    Professionals 494 24.6
    Technicians & trades workers 264 13.1
    Community & personal service workers 263 13.1
    Clerical & administrative workers 286 14.2
    Others 317 15.8
    Occupation
    Census Count Percent(%)
    Pre-school 37 6.6
    Infants/Primary 163 29.1
    Secondary 130 23.2
    Technical or Further Educational Institution 58 10.4
    University or other Tertiary Institutions 140 25.0
    Others 32 5.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 902 35.1
    Semi-detached, row or terrace house, townhouse 300 11.7
    Flat, unit or apartment 1353 52.6
    Improvised home, tent, sleepers out 6 0.2
    House or flat attached to a shop, office 7 0.3
    Others 3 0.1
    Dwelling Structure
    Census Count Percent(%)
    Rented 680 61.0
    Being purchased 251 22.5
    Fully owned 179 16.1
    Other tenure type 4 0.4
    Tenure Type
Census 2011, ABS
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