Suburb Profile Report for Gray NT (0830)

Gray House: Median price $326,250, Annual capital growth -1.18%, Number of sales 18, Weekly median advertised rent $410

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

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

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Gray is in the bottom 30% in NT when comparing median price capital growth over the last year. Gray gave property investors a disappointing capital gain figure when compared to the rest of the state, with -6.79%.

While Gray,0830 ranked number 45th in NT for increase in median house value (annualised) increase, it is ranked 49th over the last 5 years.

State is the 2nd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -7.51% offered to property buyers. Sellers in Gray itself are offering an average vendor discount of -8.74% to real estate investors.

Using the current median advertised rental of $410 and the average annual increase in value of a median property of -1.18%, investors should hope to achieve an overall return of 6.53%

Information supplied by:




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Tenants creep back in

Postcode: 0830

Median house price: $348,500

Vacancy rate: 2.4%

Three-year growth: -21.7%

Nestled in the inner city of Palmerston, the suburb of Gray is bordered by Temple Terrace, Chung Wah Terrace and Emery Avenue. It is just a stone’s throw from the CBD.

Rental demand has picked up slightly in the year to May 2019, with the average vacancy rate in the suburb falling from 2.5% to 2.4%.

Residents are served by many amenities, such as many shops, schools and a medical centre. Palmerston offers conveniences like a shopping centre, a sports complex and markets during the dry season. There are also schools like the Palmerston District Primary School.

The suburb is served by the number 71 bus, which can bring residents all the way to Darwin.

Metrics i HOUSE UNIT
$326,250 N/A
-6.79% N/A
-6.79% N/A
-1.18% N/A
$410 N/A
18 N/A
6.53% N/A
95.6 N/A

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 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 3310
Median household income ($/weekly) 1277
Median age of persons 30
Median housing loan repayment ($/monthly) 2000
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 510 15.4
    25-34 years 555 16.8
    35-44 years 520 15.7
    45-54 years 400 12.1
    55-64 years 291 8.8
    Others 1035 31.3
    Age Group
    Census Count Percent(%)
    Not Married 1052 48.6
    Registered Married 698 32.3
    Defacto Relationship 414 19.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 2354 79.7
    Papua New Guinea 63 2.1
    Philippines 121 4.1
    United Kingdom 91 3.1
    Other 122 4.1
    Others 202 6.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 82 2.9
    Christianity 1798 63.7
    Hinduism 34 1.2
    Islam 24 0.9
    No Religion 856 30.3
    Others 28 1.0
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 92 9.0
    $1,000-$1,249 97 9.5
    $1,250-$1,499 95 9.3
    $1,500-$1,999 156 15.3
    $2,000-$2,499 121 11.9
    Others 458 44.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1068 47.4
    Not in the labour force 610 27.1
    Employed, worked part-time 331 14.7
    Employed, away from work 162 7.2
    Unemployed, looking for work 83 3.7
    Person Characteristics
  • Census Count Percent(%)
    Professionals 191 12.3
    Technicians & trades workers 262 16.8
    Community & personal service workers 214 13.7
    Clerical & administrative workers 281 18.0
    Sales 151 9.7
    Others 458 29.4
    Occupation
    Census Count Percent(%)
    Pre-school 47 6.4
    Infants/Primary 285 38.7
    Secondary 221 30.0
    Technical or Further Educational Institution 54 7.3
    University or other Tertiary Institutions 98 13.3
    Others 31 4.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2080 69.8
    Flat, unit or apartment 464 15.6
    Semi-detached, row or terrace house, townhouse 435 14.6
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 593 52.2
    Being purchased 426 37.5
    Fully owned 114 10.0
    Other tenure type 3 0.3
    Tenure Type
Census 2011, ABS
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