Coconut Grove is in the bottom 30% in NT when comparing median price capital growth over the last year. Coconut Grove gave property investors a disappointing capital gain figure when compared to the rest of the state, with -6.38%.
Over the longer term, Coconut Grove has seen property prices show investors a -23.32% return over the last 3 years. This is an improvement over the last 12 months
Coconut Grove is 33th on a list of best yielding suburbs for rents in NT with a 5.13% return
Coconut Grove has had a very poor year for property investment returns compared to the rest of NT, giving investors a capital gain of -37.95% to date .
Comparing Coconut Grove,0810 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
Our latest figures would indicate that property sellers in Coconut Grove are currently offering property investors an average price cut of -11.74% below the asking price at the moment.
Often selling an investment property can take time, and in Coconut Grove the average time real estate has been on the market is 95.15 days.
Property investors should expect to get $325 weekly from the median priced house in this suburb.
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Northern suburb suffers
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.