Investment property in Nightcliff has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -1.54%
A -12.45% growth in median value for property investors in Nightcliff,0810 puts this suburb at number 17th in terms of best performing suburbs in NT
With the median price for a house in Nightcliff being $640000 and the advertised rent reaching $600 the gross rental yield for property investors calculates out to be 4.88%
If you compare the increase in value of investment property in Nightcliff, 0810 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this NT suburb was 3.77%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Nightcliff has fallen somewhat when compared to the 5 year average annual rate.
Advertised rents are around the $342.5 mark per week – giving a return of 6.48% based on the median price in Suburb
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Nightcliff is situated 8km north of the Darwin CBD, on the shores of the Beagle Gulf. Despite its coastal location, it’s more affordable than neighbours Rapid Creek and Coconut Grove, with comparable rents.
Like the rest of Darwin, access to the CBD is by road, and the only public transport option is the bus. Nightcliff has a decent level of amenity, however, with cafes and shops – including a supermarket – located around the junction of Progress Drive and Dick Ward Drive.
There are several schools in and around the suburb, and the Royal Darwin Hospital is 5km north. There is a footpath along the foreshore, primarily used for walking or cycling, a public swimming pool on the beach and food market on Sundays.
It’s largely a family suburb, with around half of residents being married. At $1,602pw, average weekly incomes are comfortably above the NT average too. Twenty-seven per cent of properties are rented.
This is a suburb whose relative affordability should see the suburb continue to perform in the long term.