Bakewell, 0832 ranked 2nd in NT when comparing growth in median property values or capital gain over the last 12 months. Bakewell is one of 124 in our list for NT
While Bakewell,0832 ranked number 4th in NT for increase in median house value (annualised) increase, it is ranked 25th over the last 5 years.
A $410 per week rent on the median house gives suburb investors a gross yield of circa 4.61%, without taking into account capital value appreciation, which has been averaging out at 0.53%.
With a capital gain of -2.38% for the last 12 months, Bakewell, 0832 has performed for property investments than its average annual -6.28% property growth over the last 5 years.
Bakewell,0832 has offered an average of -2.38% return per annum in house price rises to property investors over the last three years.
Situated 16.55km from the CBD, Bakewell is one of Palmerston (C) localities in the postcode 0832.
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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.