Property value increases in Nightcliff have tracked just lower than the NT average of -2.69% over the last 12 months.
Taking the average capital gain, or increase in median house value, Nightcliff,0810 has racked up an average of -6.99% over the period. This ranks it number 3832th in the whole country for real estate investors looking at median house price increases.
A $540 per week rent on the median house gives suburb investors a gross yield of circa 4.44%, without taking into account capital value appreciation, which has been averaging out at 0.71%.
Property value increases in Nightcliff have tracked higher than the NT average of -9.16% over the last 12 months.
Across a shorter period, Nightcliff, 0810 has seen a median price increase of -1.47% over the last quarter.
LACK OF BUYER INTEREST may well be the reason that Nightcliff is offering property investors an average of -9.21. This rate of discount on properties puts Suburb at number 1st in terms of most discounted suburbs in NT
The NT suburb of Nightcliff, 0810 is in the Darwin (C) local government area.
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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.