NT has seen average median house prices change by -3.26% which means that Bayview, 0820 has not done well for property investors by showing a capital gain of -0.28% over the last year
Across a shorter period, Bayview, 0820 has seen a median price increase of -7.63% over the last quarter.
Property investors should expect to get $750 weekly from the median priced house in this suburb.
At number 1179th in the list of Australian suburbs ordered by increase in median house value over the last year, Bayview, 0820 is in the BOTTOM 30% with a property value increase of -5.50% recorded in median house prices.
While Bayview,0820 ranked number 3rd in NT for increase in median house value (annualised) increase, it is ranked 18th over the last 5 years.
A $497.5 per week rent on the median house gives suburb investors a gross yield of circa 7.34%, without taking into account capital value appreciation, which has been averaging out at -4.20%.
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Great views don’t save falling prices
Median unit price: $425,000
Three-year growth: -37.5%
Rental yield: 6.1%
The suburb of Bayview, as its name suggests, offers lovely views of Frances Bay. It takes its name from the estate Bayview Haven.
It is one of Darwin’s more expensive pockets, with sizeable, pricey homes, but there are also high-density developments and townhouses to cater to the middle class. It is also bordered by Charles Darwin National Park. A downside to Bayview, however, is the lack of public transport. There are also few facilities catering to families with kids.
As has been the case for several years now, unit values plummeted in the November 2017-2018 period by over 25%, bringing the median to $425,000. The same level of decline was observed over the November 2018 quarter. The average rent per week is still quite high at $500, with investors able to gain 6% profit. However, this is not looking to be a good long-term investment.