Parap has had a pretty average year for property investment returns compared to the rest of NT, giving investors a capital gain of 11.59% to date .
Across a shorter period, Parap, 0820 has seen a median price increase of 2.67% over the last quarter.
Parap, 0820 is offering NT ‘s 9th 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.
Residents and property investors in Parap have been waiting around 63.7174 days to sell a property.
Giving property investors a a poor capital gain of 0.00% for the last year, Parap, 0820 is the 1612th highest performer in Australia in this respect.
Taking the average capital gain, or increase in median house value, Parap,0820 has racked up an average of 0.00% over the period. This ranks it number 1668th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in Parap are currently offering property investors an average price cut of 0.00% below the asking price at the moment.
Often selling an investment property can take time, and in Parap the average time real estate has been on the market is 0 days.
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.”