NT has seen average median house prices change by -3.69% which means that Bakewell, 0832 has not done well for property investors by showing a capital gain of -10.82% over the last year
Across a shorter period, Bakewell, 0832 has seen a median price increase of -9.90% over the last quarter.
State is the 2nd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -7.60% offered to property buyers. Sellers in Bakewell itself are offering an average vendor discount of -8.20% to real estate investors.
At number 3166 in a list of fastest selling suburbs, Bakewell is in the bottom 20% of suburbs in Australia with an average of days on market 112.68 for properties listed there.
Over the last year, property investments in Bakewell, 0832 have given investors a capital gain of -7.69%. This compares badly with the -5.96% 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.
Bakewell0832 is located in NT which offers an average discount of -8.73% to property investors. Bakewell itself is showing figures that indicate -13.27% is the average achievable by property buyers investing in the suburb.
At number 1475 in a list of fastest selling suburbs, Bakewell is in the bottom 10% of suburbs in Australia with an average of days on market 169.53 for properties listed there.
With the median price for a house in Bakewell being $270000 and the advertised rent reaching $350 the gross rental yield for property investors calculates out to be 6.74%
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.