Across a shorter period, Woolner, 0820 has seen a median price increase of -0.79% over the last quarter.
Using the current median advertised rental of $450 and the average annual increase in value of a median property of 1.38%, investors should hope to achieve an overall return of 7.43%
Information supplied by:
Unit price declines slow
Median unit price: $377,500
Three-year growth: -31.4%
Rental yield: 6.2%
Located 4km from the Darwin CBD, the suburb of Woolner offers high rental returns of over 6% at an average weekly rent rate of $450.
Apartment prices have been falling consistently for five years since 2013, but the decline seems to slowing down as Woolner recorded a drop of just 0.7% in the 12 months leading up to February 2018. This brings the median value to $377,500.
Named for an Aboriginal tribal group, Woolner provides easy access to Darwin’s amenities, including Charles Darwin university, many primary schools, the local entertainment centre, a museum, art gallery and a shopping hub. Woolner is also close to several beaches, like Casuarina and Mindil Beach. The Number 10 bus to the Darwin Interchange departs from Woolner Road.