Suburb Profile Report for Driver NT (0830)

Driver House: Median price $371,000, Annual capital growth 0.06%, Number of sales 22, Weekly median advertised rent $400

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Jun 2019 as supplied by CoreLogic. Data is reported to the period ending Mar 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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NT has seen average median house prices change by -2.97% which means that Driver, 0830 has not done well for property investors by showing a capital gain of -10.06% over the last year

A -24.75% growth in median value for property investors in Driver,0830 puts this suburb at number 49th in terms of best performing suburbs in NT

LACK OF BUYER INTEREST may well be the reason that Driver is offering property investors an average of -7.28. This rate of discount on properties puts Suburb at number 8th in terms of most discounted suburbs in NT

Driver is 21th on a list of best yielding suburbs for rents in NT with a 5.61% return

Information supplied by:


April 2019

M
O

W
E

Young suburb still going downhill

Postcode: 0830

Median unit price: $185,000

Three-year growth: -42.2%

Rental yield: 9.0%

Named for the appointed Administrator of the Northern Territory in 1946, the suburb of Driver is a fairly young suburb, being mainly populated with 1980s developments.

It is located in the inner city area of Palmerston, which is a satellite town around 30 minutes from Darwin. It has been popular with residents, thanks to its peaceful and community-friendly vibe. Driver is also a highly convenient suburb, with many schools within walking distance. The presence of several parks in the suburb, including a dog park with an obstacle course, facilitates activity. Shopping areas are in the vicinity, and Darwin is only a short drive away.

Driver continues to struggle with the Top End’s falling market as unit prices dropped by 14% in the January 2018-2019 period. The median value stands at under $200,000. Investors can gain a 9% return on rentals on average off a weekly rent rate of $320.

Metrics i HOUSE UNIT
$371,000 N/A
-11.67% N/A
-10.06% N/A
0.06% N/A
$400 N/A
22 N/A
5.61% N/A
99.8 N/A

Source: Monthly data update for Jun 2019 as supplied by CoreLogic. Data is reported to the period ending Mar 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (H), Balanced (U)
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Demographics
Total population 2958
Median household income ($/weekly) 1757
Median age of persons 28
Median housing loan repayment ($/monthly) 2076
Average household size 2.9
  • Census Count Percent(%)
    0-4 years 281 9.5
    5-14 years 503 17.0
    25-34 years 533 18.0
    35-44 years 472 16.0
    45-54 years 389 13.1
    Others 781 26.4
    Age Group
    Census Count Percent(%)
    Registered Married 756 41.4
    Not Married 747 40.9
    Defacto Relationship 325 17.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 2090 80.9
    Indonesia 87 3.4
    Papua New Guinea 69 2.7
    Philippines 71 2.7
    United Kingdom 98 3.8
    Others 168 6.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 48 2.0
    Christianity 1394 56.7
    Hinduism 82 3.3
    Islam 23 0.9
    No Religion 899 36.6
    Others 12 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 64 8.3
    $1,250-$1,499 74 9.6
    $1,500-$1,999 127 16.4
    $2,000-$2,499 124 16.0
    $2,500-$2,999 109 14.1
    Others 276 35.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1073 56.2
    Not in the labour force 380 19.9
    Employed, worked part-time 273 14.3
    Employed, away from work 118 6.2
    Unemployed, looking for work 64 3.4
    Person Characteristics
  • Census Count Percent(%)
    Managers 148 10.1
    Professionals 188 12.9
    Technicians & trades workers 279 19.1
    Community & personal service workers 205 14.0
    Clerical & administrative workers 261 17.9
    Others 380 26.0
    Occupation
    Census Count Percent(%)
    Pre-school 57 8.2
    Infants/Primary 273 39.5
    Secondary 205 29.6
    Technical or Further Educational Institution 42 6.1
    University or other Tertiary Institutions 93 13.4
    Others 22 3.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1896 73.1
    Flat, unit or apartment 380 14.6
    Semi-detached, row or terrace house, townhouse 318 12.3
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 411 47.0
    Being purchased 371 42.4
    Fully owned 93 10.6
    Other tenure type 0 0.0
    Tenure Type
Census 2011, ABS
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