Over the last year, property investments in Bakewell, 0832 have given investors a capital gain of 13.27%. This compares very favourably with the -2.69% for NT as a whole.
A -25.29% growth in median value for property investors in Bakewell,0832 puts this suburb at number 16th in terms of best performing suburbs in NT
Vendor discounting in Bakewell is giving property investors an average Vendor Discount of around -8.72%. This puts suburb at number 10th in NT when ranking the most discounted suburbs.
In the last year 25 properties changed hands in Bakewell, which puts it as the 20th most active market in NT when comparing the number of sales per suburb.
A $410 per week rent on the median house gives suburb investors a gross yield of circa 5.49%, without taking into account capital value appreciation, which has been averaging out at -0.05%.
Bakewell is in the TOP 30% in NT when comparing median price capital growth over the last year. Bakewell gave property investors a good capital gain figure when compared to the rest of the state, with 0.00%.
When looking at the potential capital gains offered to property investors over the last 3 years, Bakewell comes in at number 8th in NT.
In the last year 17 properties changed hands in Bakewell, which puts it as the 12th most active market in NT when comparing the number of sales per suburb.
Property investors should expect to get $330 weekly from the median priced house in this suburb.
Information supplied by:
Property stock drops
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.