Giving property investors a a stable capital gain of 5.41% for the last year, Bakewell, 0832 is the 900th highest performer in Australia in this respect.
The five-year average increase in median property values for Bakewell,0832 has given property investors a potential capital gain of -25.36% across each of those five years.
Vendor discounting in Bakewell is giving property investors an average Vendor Discount of around -10.03%. This puts suburb at number 5th in NT when ranking the most discounted suburbs.
On average over the past year, suburb has had 1.75 sales per month, which equates to 21 per year.
If you compare the increase in value of investment property in Bakewell, 0832 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this NT suburb was -6.38%.
The five-year average increase in median property values for Bakewell,0832 has given property investors a potential capital gain of -45.27% across each of those five years.
Bakewell is 4th on a list of best yielding suburbs for rents in NT with a 7.80% return
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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.