With a capital gain of -31.40% for the last 12 months, Bayview, 0820 has performed for property investments than its average annual 1.08% property growth over the last 5 years.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Bayview has fallen somewhat when compared to the 5 year average annual rate.
Vendor discounting in Bayview is giving property investors an average Vendor Discount of around -10.07%. This puts suburb at number 4th in NT when ranking the most discounted suburbs.
In the last year 21 properties changed hands in Bayview, which puts it as the 10th most active market in NT when comparing the number of sales per suburb.
Advertised rents are around the $545 mark per week – giving a return of 7.05% based on the median price in Suburb
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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.