NT has seen average median house prices change by -2.97% which means that Bakewell, 0832 has not done well for property investors by showing a capital gain of 3.60% over the last year
If we look at median property appreciation over just the last three months, Bakewell has given property investors a paper return of 5.00%. This puts Suburb as 5 on a list of fastest fasting appreciating suburbs in NT
State is the 2nd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -7.28% offered to property buyers. Sellers in Bakewell itself are offering an average vendor discount of -6.12% to real estate investors.
Property investors should expect to get $422.5 weekly from the median priced house in this suburb.
Over the last year, property investments in Bakewell, 0832 have given investors a capital gain of 31.27%. This compares very favourably with the -2.19% for NT as a whole.
Taking the average capital gain, or increase in median house value, Bakewell,0832 has racked up an average of 31.27% over the period. This ranks it number 1357th in the whole country for real estate investors looking at median house price increases.
Bakewell, 0832’s gross rental yield is 6.18%
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.