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
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Young suburb still going downhill
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.