Situated 3.06km from the CBD, Bayview is one of Darwin (C) localities in the postcode 0820.
Bayview has had a very poor year for property investment returns compared to the rest of NT, giving investors a capital gain of -34.45% to date .
When looking at the potential capital gains offered to property investors over the last 3 years, Bayview comes in at number 19th in NT.
Vendor discounting in Bayview is giving property investors an average Vendor Discount of around -9.66%. This puts suburb at number 5th in NT when ranking the most discounted suburbs.
Advertised rents are around the $500 mark per week – giving a return of 6.67% 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.