Coconut Grove has had a pretty average year for property investment returns compared to the rest of NT, giving investors a capital gain of -2.96% to date .
Coconut Grove,0810 has offered an average of -2.96% return per annum in house price rises to property investors over the last three years.
The most recent median price for Coconut Grove is $524000, with sellers offering an average of -10.72% off the asking price.
Often selling an investment property can take time, and in Coconut Grove the average time real estate has been on the market is 102.643 days.
The NT suburb of Coconut Grove, 0810 is in the Darwin (C) local government area.
Giving property investors a a poor capital gain of -20.70% for the last year, Coconut Grove, 0810 is the 1469th highest performer in Australia in this respect.
When looking at the potential capital gains offered to property investors over the last 3 years, Coconut Grove comes in at number 17th in NT.
The most recent median price for Coconut Grove is $249000, with sellers offering an average of -14.71% off the asking price.
Often selling an investment property can take time, and in Coconut Grove the average time real estate has been on the market is 101 days.
Coconut Grove is 10th on a list of best yielding suburbs for rents in NT with a 6.89% return
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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.