Suburb Profile Report for Virginia NT (0834)

Virginia House: Median price $640,000, Annual capital growth 2.32%, Number of sales 18, Weekly median advertised rent $500

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Jun 2019 as supplied by CoreLogic. Data is reported to the period ending Mar 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report

Virginia has had a pretty good year for property investment returns compared to the rest of NT, giving investors a capital gain of 0.79% to date .

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Virginia has fallen somewhat when compared to the 5 year average annual rate.

Vendor discounting in Virginia is giving property investors an average Vendor Discount of around -8.45%. This puts suburb at number 6th in NT when ranking the most discounted suburbs.

Information supplied by:


August 2018

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Palmerston suburb struggles

Postcode: 0834

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.

Metrics i HOUSE UNIT
$640,000 N/A
-0.78% N/A
0.79% N/A
2.32% N/A
$500 N/A
18 N/A
4.06% N/A
103.8 N/A

Source: Monthly data update for Jun 2019 as supplied by CoreLogic. Data is reported to the period ending Mar 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (H), Above average (U)
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