Over the last year, property investments in Bakewell, 0832 have given investors a capital gain of 12.76%. This compares very favourably with the -2.44% for NT as a whole.
While Bakewell,0832 ranked number 40th in NT for increase in median house value (annualised) increase, it is ranked 39th over the last 5 years.
LACK OF BUYER INTEREST may well be the reason that Bakewell is offering property investors an average of -7.25. This rate of discount on properties puts Suburb at number 14th in terms of most discounted suburbs in NT
Situated 16.89km from the CBD, Bakewell is one of Palmerston (C) localities in the postcode 0832.
NT has seen average median house prices change by -9.83% which means that Bakewell, 0832 has not done well for property investors by showing a capital gain of 2.17% over the last year
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.