Property investors who have had real estate in Larrakeyah, 0820 should be 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 -10.73%
The five-year average increase in median property values for Larrakeyah,0820 has given property investors a potential capital gain of -18.13% across each of those five years.
Larrakeyah, 0820 is offering NT ‘s most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this NT.
Situated 1.52km from the CBD, Larrakeyah is one of Darwin (C) localities in the postcode 0820.
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.