Over the last year, property investments in Bakewell, 0832 have given investors a capital gain of 0.32%. This compares favourably with the -2.36% for NT as a whole.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Bakewell has fallen somewhat when compared to the 5 year average annual rate.
With the median price for a house in Bakewell being $390000 and the advertised rent reaching $380 the gross rental yield for property investors calculates out to be 5.07%
NT has seen average median house prices change by -8.24% which means that Bakewell, 0832 has not done well for property investors by showing a capital gain of -15.32% over the last year
Bakewell,0832 has offered an average of -15.32% return per annum in house price rises to property investors over the last three years.
Often selling an investment property can take time, and in Bakewell the average time real estate has been on the market is 187.3 days.
Advertised rents are around the $300 mark per week – giving a return of 7.84% based on the median price in 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.