Investment property in Larrakeyah has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -3.13%
Across a shorter period, Larrakeyah, 0820 has seen a median price increase of -3.13% over the last quarter.
The most recent median price for Larrakeyah is $387500, with sellers offering an average of -11.46% off the asking price.
Larrakeyah, 0820’s gross rental yield is 6.04%
Information supplied by:
Unit supply on the up
Median unit price: $467,311.5
Stock on market: 19.4%
12-month growth: -8.8%
Situated within Darwin’s inner city, the popular coastal suburb of Larrakeyah – which is surrounded on three sides by the ocean – saw apartment supply increase from 53 to 68 in the year leading to April 2018.
Prices continued to trend downwards by 8.8%, causing the median value to slip below $470,000. Returns are strong at an average of 5.5%, but the outlook is not positive for this suburb; as with most suburbs in Darwin, growth prospects are considered extremely limited.
Larrakeyah is primarily composed of the Larrakeyah Barracks, which houses the Australian Defence Force and includes the Naval Base of the HMAS Coonawarra. Larrakeyah Terrace contains a park that faces the harbour. The suburb is close to a number of Darwin’s tourist spots, including Cullen Bay, Mindil Beach and the George Brown Botanical Gardens.