Suburb Profile Report for Coconut Grove NT (0810)

Coconut Grove Unit: Median price $223,250, Annual capital growth -4.24%, Number of sales 35, Weekly median advertised rent $330

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

Source: Monthly data update for Sep 2020 as supplied by CoreLogic. Data is reported to the period ending Jun 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • Unit Report

If you compare the increase in value of investment property in Coconut Grove, 0810 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this NT suburb was -18.82%.

Comparing Coconut Grove,0810 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period

LACK OF BUYER INTEREST may well be the reason that Coconut Grove is offering property investors an average of -10.31. This rate of discount on properties puts Suburb at number 3rd in terms of most discounted suburbs in NT

Renters in Suburb are facing rents around $17160 per annum or $330 every week.

Information supplied by:


September 2018

M
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W
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Northern suburb suffers

Postcode: 0810

Median unit price: $295,000

Three-year growth: -28.9%

Rental yield: 6.3%

8.7km north of Darwin, the suburb of Coconut Grove struggles with its unit market’s prices plummeting consistently.

The significant downturn has been observed since 2013, when values dropped by 26.3%. The negative growth peaked into the 12 months to June 2018, when prices declined sharply by 35.9% to put the median unit value at under $300,000.

While yields are high at an average of 6.3%, vendors are eager to sell in this poorly performing market, offering heavy discounts at an average of 15.3%. Units spend an average of 100 days on the market before being sold.

This small suburb is largely residential and light industrial, and was named for a coconut grove on the coastal fringe of the suburb in the 1960s. It is bounded by Progress Drive, Bagot Road and Totem Road. The foreshore of the Timor Sea makes up the western boundary.

Metrics i HOUSE UNIT
N/A $223,250
N/A -1.43%
N/A -18.82%
N/A -4.24%
N/A $330
N/A 35
N/A 7.69%
N/A 86.1052631578948

Source: Monthly data update for Sep 2020 as supplied by CoreLogic. Data is reported to the period ending Jun 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Below average (H), Above average (U)
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Demographics
Total population 2849
Median household income ($/weekly) 1355
Median age of persons 34
Median housing loan repayment ($/monthly) 1900
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 261 9.2
    25-34 years 642 22.5
    35-44 years 414 14.5
    45-54 years 375 13.2
    55-64 years 307 10.8
    Others 852 29.9
    Age Group
    Census Count Percent(%)
    Not Married 1038 51.8
    Registered Married 675 33.7
    Defacto Relationship 291 14.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 1596 63.7
    Indonesia 78 3.1
    Philippines 169 6.7
    United Kingdom 106 4.2
    Other 194 7.7
    Others 363 14.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 95 4.0
    Christianity 1404 58.9
    Hinduism 59 2.5
    Islam 55 2.3
    No Religion 748 31.4
    Others 24 1.0
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 87 8.7
    $1,000-$1,249 88 8.8
    $1,250-$1,499 91 9.1
    $1,500-$1,999 160 16.0
    $2,000-$2,499 109 10.9
    Others 464 46.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1036 48.9
    Not in the labour force 575 27.1
    Employed, worked part-time 326 15.4
    Employed, away from work 98 4.6
    Unemployed, looking for work 83 3.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 175 12.0
    Professionals 336 23.0
    Technicians & trades workers 216 14.8
    Community & personal service workers 164 11.2
    Clerical & administrative workers 222 15.2
    Others 348 23.8
    Occupation
    Census Count Percent(%)
    Infants/Primary 151 30.3
    Secondary 108 21.7
    Technical or Further Educational Institution 36 7.2
    University or other Tertiary Institutions 153 30.7
    Other type of educational institution 27 5.4
    Others 23 4.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Flat, unit or apartment 1098 44.6
    Separate house 796 32.3
    Semi-detached, row or terrace house, townhouse 563 22.9
    Improvised home, tent, sleepers out 3 0.1
    House or flat attached to a shop, office 3 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 656 60.3
    Being purchased 286 26.3
    Fully owned 140 12.9
    Other tenure type 5 0.5
    Tenure Type
Census 2011, ABS
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