Bakewell, 0832 ranked 18th 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 0.13% over the period. This ranks it number 3991th in the whole country for real estate investors looking at median house price increases.
Property buyers and investors in Bakewell 0832 should be seeing an average reduction in asking price of around -9.36% . This means that Bakewell is holding prices well when compared to other suburbs in NT.
Situated 17.06km from the CBD, Bakewell is one of NULL localities in the postcode 0832.
Investment property in Bakewell has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -24.32%
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.
Property investors looking for a bargain in Bakewell should be aiming for at least -11.68% off the asking price, which is the average vendor discount being achieved at the moment.
Advertised rents are around the $320 mark per week – giving a return of 7.92% based on the median price in Suburb
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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.