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
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
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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