Suburb Profile Report for Millner NT (0810)

Millner House: Median price $497,500, Annual capital growth 2.83%, Number of sales 21, Weekly median advertised rent $450

Millner Unit: Median price $280,000, Annual capital growth 0.77%, Number of sales 15, Weekly median advertised rent $350

House
Unit

Source: CoreLogic RP Data

Median price
Number of sales

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

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Millner has had a very poor year for property investment returns compared to the rest of NT, giving investors a capital gain of -10.38% to date .

Over the longer term, Millner has seen property prices show investors a -13.95% return over the last 3 years. This is an improvement over the last 12 months

Millner0810 is located in NT which offers an average discount of -8.58% to property investors. Millner itself is showing figures that indicate -5.42% is the average achievable by property buyers investing in the suburb.

On average over the past year, suburb has had 1.92 sales per month, which equates to 23 per year.

With the median price for a house in Millner being $475000 and the advertised rent reaching $450 the gross rental yield for property investors calculates out to be 4.93%

Millner has had a very poor year for property investment returns compared to the rest of NT, giving investors a capital gain of -22.60% to date .

The five-year average increase in median property values for Millner,0810 has given property investors a potential capital gain of -22.60% across each of those five years.

Millner is 11th on a list of best yielding suburbs for rents in NT with a 6.44% return

Information supplied by:

YIP MAG
April 2015

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Millner is one of the major growth areas of Darwin’s northern suburbsFull summary 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.
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Metrics	HOUSE	UNIT
Median price	$497,500	$280,000
Quarterly growth	-0.50%	-3.45%
12-month growth	4.19%	-6.67%
Average Annual Growth	2.83%	0.77%
Weekly median advertised rent	$450	$350
Number of sales	21	15
Gross rental yield	4.70%	6.50%
Days on market	N/A	N/A

Your estimated repayment
$2,011.74/monthDo you qualify?

Based on the median price for this suburb and an 80% LVR loan over 25 yrs with 3.59% interest rate.

DSR Score for property investment : Above average (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