Property investors who have had real estate in Desert Springs, 0870 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 -5.25%
Desert Springs,0870 was ranked 3530 in Australia by increase in median property value over the quarter.
With the median price for a house in Desert Springs being $658500 and the advertised rent reaching $760 the gross rental yield for property investors calculates out to be 6.00%
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Limited space in Alice Springs neighbour
Median house price: $667,500
Vacancy rate: 0.8%
Three-year growth: 4.6%
Desert Springs, on the banks of the Todd River in Alice Springs, is home to the Alice Springs Golf Club and Olive Pink Botanic Gardens, which specialises in the flora of Australia’s arid interior.
It’s also just a short drive from many of the Alice’s top tourist attractions, including the Alice Springs Reptile Centre and the National Pioneer Women’s Hall of Fame. With a vacancy rate of just 0.8%, Desert Springs is a solid choice for an investment property.
While unit prices are down by 2.5% this quarter to $332,000, rental yields are strong at 6.9%, and landlords can expect to achieve a median weekly rent of around $440. House prices have also been on a downward trend, dropping 4.6% in the past twelve months to $668,000, and stock levels are unchanged compared to last year.