NT has seen average median house prices change by -4.71% which means that Bakewell, 0832 has not done well for property investors by showing a capital gain of -18.04% over the last year
Comparing Bakewell,0832 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
The most recent median price for Bakewell is $397500, with sellers offering an average of -9.49% off the asking price.
Often selling an investment property can take time, and in Bakewell the average time real estate has been on the market is 108.37 days.
With the median price for a house in Bakewell being $397500 and the advertised rent reaching $450 the gross rental yield for property investors calculates out to be 5.89%
Property investors who have had real estate in Bakewell, 0832 should be unhappy with this NT suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -4.92%
The five-year average increase in median property values for Bakewell,0832 has given property investors a potential capital gain of -27.19% across each of those five years.
State is the most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -10.68% offered to property buyers. Sellers in Bakewell itself are offering an average vendor discount of -8.97% to real estate investors.
Bakewell is 4th on a list of best yielding suburbs for rents in NT with a 6.85% return
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.