With a capital gain of 6.41% for the last 12 months, Bakewell, 0832 has performed for property investments than its average annual -0.99% property growth over the last 5 years.
Bakewell,0832 was ranked 758 in Australia by increase in median property value over the quarter.
A $380 per week rent on the median house gives suburb investors a gross yield of circa 4.76%, without taking into account capital value appreciation, which has been averaging out at -0.99%.
Over the last year, property investments in Bakewell, 0832 have given investors a capital gain of -4.65%. This compares averagely with the -1.16% for NT as a whole.
Over the longer term, Bakewell has seen property prices show investors a -24.07% return over the last 3 years. This is an improvement over the last 12 months
With the median price for a house in Bakewell being $205000 and the advertised rent reaching $300 the gross rental yield for property investors calculates out to be 7.61%
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.