With a capital gain of -19.79% for the last 12 months, Bakewell, 0832 has performed for property investments than its average annual 0.42% property growth over the last 5 years.
Taking the average capital gain, or increase in median house value, Bakewell,0832 has racked up an average of -19.79% over the period. This ranks it number 4076th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in Bakewell are currently offering property investors an average price cut of -8.46% below the asking price at the moment.
A $450 per week rent on the median house gives suburb investors a gross yield of circa 6.08%, without taking into account capital value appreciation, which has been averaging out at 0.42%.
With a capital gain of -10.51% for the last 12 months, Bakewell, 0832 has performed for property investments than its average annual -0.28% property growth over the last 5 years.
If we look at median property appreciation over just the last three months, Bakewell has given property investors a paper return of 0.76%. This puts Suburb as 9 on a list of fastest fasting appreciating suburbs in NT
LACK OF BUYER INTEREST may well be the reason that Bakewell is offering property investors an average of -10.11. This rate of discount on properties puts Suburb at number 10th in terms of most discounted suburbs in NT
Advertised rents are around the $340 mark per week – giving a return of 6.70% based on the median price in Suburb
Average annual growth in Bakewell over the past 10 years has been phenomenal. Situated about 25km south-east of the Darwin CBD, it could be ripe for the picking as an investment choice.Full summary
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Average annual growth in Bakewell over the past 10 years has been phenomenal. Situated about 25km south-east of the Darwin CBD, it could be ripe for the picking as an investment choice.
Bakewell is a family-friendly area in Palmerston with a number of public parks, primary and secondary schools and day-care facilities. It’s close to the Stuart Highway, making Darwin proper only a half-hour drive away; regular bus services also operate throughout the area.
Elders Real Estate Palmerston residential sales consultant Sue Cox, says there’s a big rental market in Bakewell, which she only expects to grow.
“Because it’s got bigger blocks than say the Gunns and Duracks of Palmerston, it’s attracted a lot of people,” she says. “Instead of being stuck on a 400 square-metre block, you’re on a 700 square-metre block which is much more family and pet-oriented. It’s a great suburb.”
Bakewell’s relative affordability compared to neighbouring suburbs will also appeal to investors. The median house price in nearby Rosebery, for example, is close to $80,000 higher than that of Bakewell.
It’s also an area with a young and wealthy demographic. The latest ABS estimates put 64.6% of the population in the 0-34 year age bracket, while Census data shows an average weekly family income of $1,519 – well above the territory average of $1,217.
“It was known for a little while as your first home buyers’ market but, in saying that, the suburb has strengthened and deepened with age, and you’ve got a good variety in there,” says Cox.