Virginia has had a pretty good year for property investment returns compared to the rest of NT, giving investors a capital gain of 0.00% to date .
Over the longer term, Virginia has seen property prices show investors a -15.69% return over the last 3 years. This is an improvement over the last 12 months
At number 4th of NT’s most discounted properties, Virginia is in the bottom 10% of the state/territory when listing in order of most discounted to least.
Located 31km from Darwin and 11km from Palmerston in an outer rural pocket of NT, the suburb of Virginia has been struggling with prices falling since 2013Full summary
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Palmerston suburb struggles
Median house price: $630,000
Three-year growth: -17.6%
Rental yield: 5.3%
Located 31km from Darwin and 11km from Palmerston in an outer rural pocket of NT, the suburb of Virginia has been struggling with prices falling since 2013.
Over the year May 2017-2018, house values plummeted by almost 20% to a median of $630,000, with the negative growth looking to continue as the May 2018 quarter reported a 3.1% price fall.
Nonetheless, the suburb has been a relatively robust rental market, as investors achieve 5.3% rental returns in a small market that is about completely occupied (with an average vacancy rate of 0.1%, as per Real Estate Investar). The weekly average rent charged is $640.
Virginia is surrounded by suburbs like Southport, Howard Springs and Bees Creek – all populated by residents who wish to enjoy the local rural lifestyle. Bus services run from Virginia to the neighbouring areas.Close