Suburb Profile Report for Millner NT (0810)

Millner House: Median price $440,000, Annual capital growth 1.30%, Number of sales 17, Weekly median advertised rent $450

Millner Unit: Median price $282,500, Annual capital growth 4.42%, Number of sales 14, Weekly median advertised rent $350

House
Unit

Source: CoreLogic RP Data

Median price
Number of sales

Source: Monthly data update for Aug 2019 as supplied by CoreLogic. Data is reported to the period ending May 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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Property investors who have had real estate in Millner, 0810 should be 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 -9.74%

Millner,0810 was ranked 4092 in Australia by increase in median property value over the quarter.

Using the current median advertised rental of $450 and the average annual increase in value of a median property of 1.30%, investors should hope to achieve an overall return of 5.32%

A $350 per week rent on the median house gives suburb investors a gross yield of circa 6.44%, without taking into account capital value appreciation, which has been averaging out at 4.42%.

Information supplied by:

YIP MAG
April 2015

M
O

W
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Millner is one of the major growth areas of Darwin’s northern suburbs.

Located between three main arterial roads and just 10km from the CBD, it is fast becoming a highly sought-after neighbourhood.

Sean Moloney, of Raine & Horne, says the suburb’s easy access is really pushing its popularity.

"It’s probably the location more than anything else. The whole area seems to be moving forwards. It’s growing really well,’’ he said.

With Darwin’s second largest shopping complex in the area coupled with good schooling, Millner is looking more attractive to families day by day.

“The area is getting more families moving there at this stage,” said Moloney.

“You’ve got the Homemaker centre close by, you’ve got Rapid Creek Market quite close, and you’re only 10 minutes from the CBD.

“The schooling is really good. There’s a lot of schools in the area, along with good parks and recreational facilities. These are certainly sought-after amenities.’’

The airport, hospital, university and the foreshore are all well within walking distance, making Miller the ideal place for those wanting in-demand amenities at their fingertips.

Units in Millner also boast an excellent gross rental yield of 6%.

Moloney says the entire suburb has proved to be highly sought-after with no specific streets standing out as the most popular.

He stressed that the central location played a significant part in this.

‘’People are drawn to the amenities and the location, having the markets really close as well. It has a great lifestyle and it’s so close to everything,’’ he says.

Metrics	HOUSE	UNIT
Median price	$440,000	$282,500
Quarterly growth	-11.56%	0.00%
12-month growth	-9.74%	N/A
Average Annual Growth	1.30%	4.42%
Weekly median advertised rent	$450	$350
Number of sales	17	14
Gross rental yield	5.32%	6.44%
Days on market	N/A	N/A

Your estimated repayment
$1,702.36/monthDo you qualify?

Based on the median price for this suburb and an 80% LVR loan over 25 yrs with 3.18% interest rate.

DSR Score for property investment : Balanced (H), Balanced (U)

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Demographics

Total population	2465
Median household income ($/weekly)	1573
Median age of persons	35
Median housing loan repayment ($/monthly)	1950
Average household size	2.5

Census	Count	Percent(%)
5-14 years	300	12.2
25-34 years	429	17.4
35-44 years	443	18.0
45-54 years	335	13.6
55-64 years	263	10.7
Others	695	28.2

Age Group

Census	Count	Percent(%)
Not Married	835	48.8
Registered Married	603	35.3
Defacto Relationship	272	15.9

Social Marital Status

Census	Count	Percent(%)
Australia	1489	68.4
Indonesia	49	2.2
Philippines	126	5.8
United Kingdom	81	3.7
Other	153	7.0
Others	280	12.9

Country of Birth

Census	Count	Percent(%)
Buddhism	96	4.7
Christianity	1269	62.2
Hinduism	51	2.5
Islam	31	1.5
No Religion	565	27.7
Others	27	1.3

Religious Affiliation

Census	Count	Percent(%)
$800-$999	68	8.8
$1,250-$1,499	71	9.2
$1,500-$1,999	124	16.0
$2,000-$2,499	99	12.8
$2,500-$2,999	72	9.3
Others	340	43.9

Gross Household Income (Weekly)

Census	Count	Percent(%)
Employed, worked full-time	937	52.7
Not in the labour force	395	22.2
Employed, worked part-time	286	16.1
Employed, away from work	104	5.8
Unemployed, looking for work	56	3.1

Person Characteristics

Census	Count	Percent(%)
Professionals	321	24.3
Technicians & trades workers	219	16.6
Community & personal service workers	151	11.4
Clerical & administrative workers	201	15.2
Labourers	117	8.8
Others	314	23.7

Occupation

Census	Count	Percent(%)
Pre-school	34	6.6
Infants/Primary	168	32.4
Secondary	125	24.1
Technical or Further Educational Institution	35	6.7
University or other Tertiary Institutions	124	23.9
Others	33	6.4

Type of Educational Institution Attending

Census	Count	Percent(%)
Separate house	1419	64.3
Semi-detached, row or terrace house, townhouse	484	21.9
Flat, unit or apartment	295	13.4
Caravan, cabin, houseboat	4	0.2
Improvised home, tent, sleepers out	4	0.2
Others	0	0.0