Using the current median advertised rental of $760 and the average annual increase in value of a median property of 8.74%, investors should hope to achieve an overall return of 4.49%
With a capital gain of -20.67% for the last 12 months, Bayview, 0820 has performed for property investments than its average annual -1.09% property growth over the last 5 years.
Bayview,0820 was ranked 1421 in Australia by increase in median property value over the quarter.
With the median price for a house in Bayview being $357000 and the advertised rent reaching $490 the gross rental yield for property investors calculates out to be 7.14%
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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.