Parap has had a A very good year for property investment returns compared to the rest of NT, giving investors a capital gain of 5.00% to date .
A -5.77% growth in median value for property investors in Parap,0820 puts this suburb at number 4th in terms of best performing suburbs in NT
Sellers are offering property buyers an average discount of -11.53% to buyers in Parap at the moment, which is less than average for the rest of NT.
The NT suburb of Parap, 0820 is in the Darwin local government area.
With a capital gain of -15.85% for the last 12 months, Parap, 0820 has performed for property investments than its average annual 6.81% property growth over the last 5 years.
While Parap,0820 ranked number 20th in NT for increase in median house value (annualised) increase, it is ranked 9th over the last 5 years.
Parap, 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 10% of discounts offered by this NT.
Situated 3.05km from the CBD, Parap is one of Darwin localities in the postcode 0820.
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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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