Giving property investors a a poor capital gain of -9.46% for the last year, Parap, 0820 is the 3995th highest performer in Australia in this respect.
While Parap,0820 ranked number 51th in NT for increase in median house value (annualised) increase, it is ranked 37th over the last 5 years.
Property investors should expect to get $585 weekly from the median priced house in this suburb.
Parap is in the TOP 10% in NT when comparing median price capital growth over the last year. Parap gave property investors a very good capital gain figure when compared to the rest of the state, with 30.78%.
Taking the average capital gain, or increase in median house value, Parap,0820 has racked up an average of 30.78% over the period. This ranks it number 1552th in the whole country for real estate investors looking at median house price increases.
Parap, 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.
The NT suburb of Parap, 0820 is in the Darwin (C) local government area.
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Parap is around 3km north of the CBD, the same distance south-west of the airport, and practically next door to the beach. Like much of Darwin, its population is growing by around 2% per annum, and residents are typically quite affluent with an estimated weekly income of over $2,000.
There is a small cluster of shops, restaurants, and cafes in the shopping village near Parap Road, with further amenities north at Fannie Bay and as you head towards the CBD. Parap is also home to the Parap Village Markets, which sees stallholders set up a range of cuisines, clothing, jewellery and crafts every Saturday morning.
Houses are slightly more expensive than nearby suburbs. Blocks are relatively large however, and values have also remained robust in a volatile market.
“There is some public debate in Darwin at present about the merits of infill development and higher density in inner suburbs as opposed to furthering the urban sprawl,” explains Terry Roth, director of Herron Todd White NT Roth.
“Larger blocks in inner city suburbs like Parap may have some potential for more rezoning and subdivision to increase population density on the peninsula. Such blocks will be priced at around the $750,000 ceiling.”