Giving property investors a a solid capital gain of 7.73% for the last year, Bakewell, 0832 is the 800th highest performer in Australia in this respect.
Taking the average capital gain, or increase in median house value, Bakewell,0832 has racked up an average of 7.73% over the period. This ranks it number 3997th in the whole country for real estate investors looking at median house price increases.
Bakewell0832 is located in NT which offers an average discount of -7.42% to property investors. Bakewell itself is showing figures that indicate -6.72% is the average achievable by property buyers investing in the suburb.
Using the current median advertised rental of $420 and the average annual increase in value of a median property of -0.01%, investors should hope to achieve an overall return of 5.65%
At number 368th in the list of Australian suburbs ordered by increase in median house value over the last year, Bakewell, 0832 is in the top 30% with a property value increase of 4.44% recorded in median house prices.
The five-year average increase in median property values for Bakewell,0832 has given property investors a potential capital gain of -39.74% across each of those five years.
Advertised rents are around the $330 mark per week – giving a return of 7.30% 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.