Property value increases in Gunn have tracked close to the NT average of -3.69% over the last 12 months.
When looking at the potential capital gains offered to property investors over the last 3 years, Gunn comes in at number 37th in NT.
LACK OF BUYER INTEREST may well be the reason that Gunn is offering property investors an average of -7.60. This rate of discount on properties puts Suburb at number 20th in terms of most discounted suburbs in NT
On average over the past year, suburb has had 5.00 sales per month, which equates to 60 per year.
Renters in Suburb are facing rents around $5940 per annum or $495 every week.
A budget of $500-600,000 will secure you a good quality three or four bedroom home set amongst leafy streets.Full summary
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Palmerston suburb works to avoid excess supply
Median house price: $479,000
Stock on market: -17.80%
12-month growth: -18.47%
Boasting family homes with big backyards, this popular inner suburb of Palmerston – a satellite city located around 30 minutes’ drive (or 23km) from Darwin – is growing in popularity.
A budget of $500-600,000 will secure you a good quality three or four bedroom home set amongst leafy streets. These types of properties will readily return a yield of 5%-plus, where families are keen to live within close proximity to the local schools and the Palmerston CBD, which is a 10-minute drive.
In response to the Northern Territory’s downward slide, Gunn is aiming to minimise expenditures and avoid oversupply by limiting the number of properties on the market. Thus, stock fell by almost 18% in the past 12 months.