Property value increases in Bayview have tracked higher than the NT average of -2.32% over the last 12 months.
When looking at the potential capital gains offered to property investors over the last 3 years, Bayview comes in at number 12th in NT.
Situated 3.10km from the CBD, Bayview is one of Darwin (C) localities in the postcode 0820.
If you compare the increase in value of investment property in Bayview, 0820 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this NT suburb was -17.65%.
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.
The NT suburb of Bayview, 0820 is in the Darwin (C) local government area.
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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.