Larrakeyah is an average performer in NT when comparing median price capital growth over the last year. Larrakeyah gave property investors a average capital gain figure when compared to the rest of the state, with -14.91%.
When looking at the potential capital gains offered to property investors over the last 3 years, Larrakeyah comes in at number 11th in NT.
State is the most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -10.68% offered to property buyers. Sellers in Larrakeyah itself are offering an average vendor discount of -10.35% to real estate investors.
Renters in Suburb are facing rents around $22100 per annum or $425 every week.
Information supplied by:
Larrakeyah, NT – High yielding property near the CBD
Median unit price: $383,750
Three-year growth: -23.3%
Rental yield: 5.8%
An inner-city suburb of Darwin, Larrakeyah was named for the Larrakia indigenous group that originally occupied the area prior to European settlement. Development commenced in the 1800s.
Once the site of a World War II attack by the Japanese, Larrakeyah is currently a base for the Australian Defence Force, and the barracks dominate the suburb. Larrakeyah Terrace is the most popular recreational spot for residents as it provides a lovely view of the harbour. Cullen Bay, Mindil Beach and the George Brown Botanical Gardens are close by.
The suburb’s proximity to Darwin has attracted a diverse population looking for work in the Top End’s capital.