Giving property investors a an average capital gain of 3.93% for the last year, Parap, 0820 is the 1900th highest performer in Australia in this respect.
Over the longer term, Parap has seen property prices show investors a -13.39% return over the last 3 years. This is an improvement over the last 12 months
Advertised rents are around the $650 mark per week – giving a return of 4.65% based on the median price in Suburb
At number 1651th in the list of Australian suburbs ordered by increase in median house value over the last year, Parap, 0820 is in the BOTTOM 10% with a property value increase of -19.05% recorded in median house prices.
Across a shorter period, Parap, 0820 has seen a median price increase of -12.82% over the last quarter.
LACK OF BUYER INTEREST may well be the reason that Parap is offering property investors an average of -9.46. This rate of discount on properties puts Suburb at number 8th in terms of most discounted suburbs in NT
Advertised rents are around the $460 mark per week – giving a return of 7.04% based on the median price in Suburb
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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.Full summary
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.”
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