If you compare the increase in value of investment property in Larrakeyah, 0820 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this NT suburb was -10.67%.
Taking the average capital gain, or increase in median house value, Larrakeyah,0820 has racked up an average of -10.67% over the period. This ranks it number 1413th in the whole country for real estate investors looking at median house price increases.
Larrakeyah, 0820 is offering NT ‘s 2nd most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 20% of discounts offered by this NT.
With the median price for a house in Larrakeyah being $397500 and the advertised rent reaching $460 the gross rental yield for property investors calculates out to be 6.02%
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.