Property investors who have had real estate in Driver, 0830 should be relatively unhappy with this NT suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -4.14%
The five-year average increase in median property values for Driver,0830 has given property investors a potential capital gain of -17.35% across each of those five years.
Driver, 0830 is offering NT ‘s 3rd most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this NT.
Property investors should expect to get $420 weekly from the median priced house in this suburb.
Property value increases in Driver have tracked close to the NT average of -11.83% over the last 12 months.
The five-year average increase in median property values for Driver,0830 has given property investors a potential capital gain of -47.89% across each of those five years.
Driver0830 is located in NT which offers an average discount of -10.98% to property investors. Driver itself is showing figures that indicate -8.38% is the average achievable by property buyers investing in the suburb.
A $320 per week rent on the median house gives suburb investors a gross yield of circa 8.99%, without taking into account capital value appreciation, which has been averaging out at -1.72%.
Named for the appointed Administrator of the Northern Territory in 1946, the suburb of Driver is a fairly young suburb, being mainly populated with 1980s developmentsFull summary
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Young suburb still going downhill
Median unit price: $185,000
Three-year growth: -42.2%
Rental yield: 9.0%
Named for the appointed Administrator of the Northern Territory in 1946, the suburb of Driver is a fairly young suburb, being mainly populated with 1980s developments.
It is located in the inner city area of Palmerston, which is a satellite town around 30 minutes from Darwin. It has been popular with residents, thanks to its peaceful and community-friendly vibe. Driver is also a highly convenient suburb, with many schools within walking distance. The presence of several parks in the suburb, including a dog park with an obstacle course, facilitates activity. Shopping areas are in the vicinity, and Darwin is only a short drive away.
Driver continues to struggle with the Top End’s falling market as unit prices dropped by 14% in the January 2018-2019 period. The median value stands at under $200,000. Investors can gain a 9% return on rentals on average off a weekly rent rate of $320.Close