Giving property investors a a poor capital gain of -10.26% for the last year, Driver, 0830 is the 3375th highest performer in Australia in this respect.
Driver,0830 has offered an average of -10.26% return per annum in house price rises to property investors over the last three years.
Our latest figures would indicate that property sellers in Driver are currently offering property investors an average price cut of -8.83% below the asking price at the moment.
Property investors should expect to get $400 weekly from the median priced house in this suburb.
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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.