Suburb Profile Report for Bakewell NT (0832)

Bakewell House: Median price $355,000, Annual capital growth -0.30%, Number of sales 25, Weekly median advertised rent $450

Bakewell Unit: Median price $230,005, Annual capital growth -1.62%, Number of sales 24, Weekly median advertised rent $340

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

Bakewell is in the bottom 10% in NT when comparing median price capital growth over the last year. Bakewell gave property investors a dismal capital gain figure when compared to the rest of the state, with -20.67%.

The five-year average increase in median property values for Bakewell,0832 has given property investors a potential capital gain of -31.60% across each of those five years.

Property buyers and investors in Bakewell 0832 should be seeing an average reduction in asking price of around -8.99% . This means that Bakewell is holding prices well when compared to other suburbs in NT.

Using the current median advertised rental of $450 and the average annual increase in value of a median property of -0.30%, investors should hope to achieve an overall return of 6.59%

Bakewell, 0832 ranked 11th in NT when comparing growth in median property values or capital gain over the last 12 months. Bakewell is one of 124 in our list for NT

Taking the average capital gain, or increase in median house value, Bakewell,0832 has racked up an average of -14.81% over the period. This ranks it number 1714th in the whole country for real estate investors looking at median house price increases.

State is the most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -9.46% offered to property buyers. Sellers in Bakewell itself are offering an average vendor discount of -6.57% to real estate investors.

Advertised rents are around the $340 mark per week – giving a return of 7.69% based on the median price in Suburb

Information supplied by:


December 2018

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A suburb of Palmerston’s inner city that is just about 3km from the CBD, Bakewell is home to several beautiful public parks, with the largest being situated on the border between Gunn in the north and Bakewell. It contains a playground and manmade ponds for kids to enjoyFull summary

Property stock drops

Postcode: 0832

Median unit price: $264,000

Stock on market: -40.0%

12-month growth: -9.3%

A suburb of Palmerston’s inner city that is just about 3km from the CBD, Bakewell is home to several beautiful public parks, with the largest being situated on the border between Gunn in the north and Bakewell. It contains a playground and manmade ponds for kids to enjoy.

Buscall Avenue is Bakewell’s northern boundary, while Lambrick Avenue makes up the southern and eastern borders. Chung Wah Terrace sits to the west of the suburb.

The Bakewell market has not fared too well, with the Top End failing to stabilise the economy. However, the falling supply of property could help tighten things – the low median unit price of just over $250,000 could inspire some demand as apartment stock plummeted from 32 to 18 in the year to September 2018, contributing to the 40% overall stock in market decline.

Close
Metrics i HOUSE UNIT
$355,000 $230,005
1.72% 0.00%
-20.67% -14.81%
-0.30% -1.62%
$450 $340
25 24
6.59% 7.69%
82.33 28

Source: CoreLogic

Disclaimer: The data presented here is the latest available data at the time of upload but we note that our providers routinely update data and we are currently working on a solution to include these retrospective updates.

DSR Score for property investment : Balanced (H), Above average (U)
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Demographics
Total population 3191
Median household income ($/weekly) 1745
Median age of persons 29
Median housing loan repayment ($/monthly) 2045
Average household size 2.7
  • Census Count Percent(%)
    0-4 years 315 9.9
    5-14 years 485 15.2
    20-24 years 305 9.6
    25-34 years 665 20.8
    35-44 years 571 17.9
    Others 850 26.6
    Age Group
    Census Count Percent(%)
    Not Married 900 42.8
    Registered Married 740 35.2
    Defacto Relationship 462 22.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 2472 83.7
    Papua New Guinea 64 2.2
    Philippines 100 3.4
    United Kingdom 107 3.6
    Other 61 2.1
    Others 150 5.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 52 1.9
    Christianity 1728 61.5
    Hinduism 27 1.0
    Islam 18 0.6
    No Religion 967 34.4
    Others 17 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 91 9.3
    $1,250-$1,499 118 12.0
    $1,500-$1,999 167 17.0
    $2,000-$2,499 163 16.6
    $2,500-$2,999 112 11.4
    Others 330 33.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1379 61.6
    Not in the labour force 352 15.7
    Employed, worked part-time 296 13.2
    Employed, away from work 153 6.8
    Unemployed, looking for work 57 2.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 167 9.1
    Professionals 227 12.4
    Technicians & trades workers 351 19.2
    Community & personal service workers 234 12.8
    Clerical & administrative workers 350 19.1
    Others 501 27.4
    Occupation
    Census Count Percent(%)
    Pre-school 61 8.4
    Infants/Primary 304 41.8
    Secondary 186 25.5
    Technical or Further Educational Institution 53 7.3
    University or other Tertiary Institutions 99 13.6
    Others 25 3.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1897 64.9
    Flat, unit or apartment 625 21.4
    Semi-detached, row or terrace house, townhouse 403 13.8
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 565 51.7
    Rented 455 41.7
    Fully owned 68 6.2
    Other tenure type 4 0.4
    Tenure Type
Census 2011, ABS
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