Woodroffe has had a very poor year for property investment returns compared to the rest of NT, giving investors a capital gain of -9.03% to date .
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Woodroffe has fallen somewhat when compared to the 5 year average annual rate.
Woodroffe0830 is located in NT which offers an average discount of -7.87% to property investors. Woodroffe itself is showing figures that indicate -9.64% is the average achievable by property buyers investing in the suburb.
Using the current median advertised rental of $410 and the average annual increase in value of a median property of -2.51%, investors should hope to achieve an overall return of 6.51%
Information supplied by:
A steady decline in the unit market
Median house price: $360,000
Three-year growth: -30.1%
Rental yield: 6.1%
Around half an hour’s drive from Darwin is the suburb of Woodroffe, an inner-city suburb of Palmerston that has received praise for its good location and amenities.
Woodroffe’s proximity to Palmerston is advantageous as residents have access to shops like the Palmerston shopping centre. Families are close to schools, childcare centres, sports facilities and a local library. Public transport is available as well in Palmerston, and Woodroffe’s neighbours are bounded by many streets. There are a few parks for Woodroffe residents to enjoy as well on their downtime.
The thumb of decline sits heavily on the Woodroffe market, as house values have been consistently down since 2014. Nonetheless, prices were flat over the February 2019 quarter, with the median staying at $360,000. Moreover, yields are high at an average of 6.1%.