Property investors who have had real estate in Gray, 0830 should be relatively unhappy with this NT suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -4.35%
Gray,0830 was ranked 1571 in Australia by increase in median property value over the quarter.
Gray0830 is located in NT which offers an average discount of -7.87% to property investors. Gray itself is showing figures that indicate -10.45% is the average achievable by property buyers investing in the suburb.
Often selling an investment property can take time, and in Gray the average time real estate has been on the market is 99.4444 days.
Gray is 11th on a list of best yielding suburbs for rents in NT with a 6.22% return
Information supplied by:
Tenants creep back in
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.