Property investors who have had real estate in Larrakeyah, 0820 should be relatively unhappy with this NT suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -1.94%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Larrakeyah has fallen somewhat when compared to the 5 year average annual rate.
The most recent median price for Larrakeyah is $380000, with sellers offering an average of -7.94% off the asking price.
Renters in Suburb are facing rents around $19760 per annum or $380 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.