Property value increases in Alawa have tracked just lower than the NT average of -2.30% over the last 12 months.
If we look at median property appreciation over just the last three months, Alawa has given property investors a paper return of -1.87%. This puts Suburb as 37 on a list of fastest fasting appreciating suburbs in NT
The most recent median price for Alawa is $420000, with sellers offering an average of -8.80% off the asking price.
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Rental activity picks up
Median house price: $456,500
Rental vacancy rate: 7.4%
Three-year growth: -19.2%
Situated north of Darwin, the suburb of Alawa was established in the late 1960s and named for the Aboriginal tribe that lived on the southern tributaries.
Alawa is bordered by Dripstone Road and Rapid Creek. At its boundary via the suburb’s connection to Lakeside Drive is the Casuarina shopping centre, providing much convenience to its residents. In additon, Alawa contains its own shopping hub, along with a primary school.
The suburb continues its downward trend in the August 2017-2018 period, with house prices plummeting by 15.5% to hit a median of just over $450,000. While the situation looks dire for investors seeking capital gain, rentals are picking up – the vacancy rate fell sharply from 9.7% in August 2017 to 7.4% a year on. The weekly average rent clocks in at $460, generating 5.2% yield on average.