Across a shorter period, Bayview, 0820 has seen a median price increase of 0.00% over the last quarter.
The NT suburb of Bayview, 0820 is in the Darwin (C) local government area.
Investment property in Bayview 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 -28.14%
The five-year average increase in median property values for Bayview,0820 has given property investors a potential capital gain of -42.73% across each of those five years.
Property investors looking for a bargain in Bayview should be aiming for at least -9.46% off the asking price, which is the average vendor discount being achieved at the moment.
Using the current median advertised rental of $500 and the average annual increase in value of a median property of -0.63%, investors should hope to achieve an overall return of 7.09%
Information supplied by:
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.