Property investors who have had real estate in Gunn, 0832 should be relatively 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 -3.93%
Across a shorter period, Gunn, 0832 has seen a median price increase of 1.22% over the last quarter.
Gunn0832 is located in NT which offers an average discount of -7.87% to property investors. Gunn itself is showing figures that indicate -8.13% is the average achievable by property buyers investing in the suburb.
Advertised rents are around the $450 mark per week – giving a return of 5.50% based on the median price in Suburb
Information supplied by:
Palmerston suburb works to avoid excess supply
Median house price: $479,000
Stock on market: -17.80%
12-month growth: -18.47%
Boasting family homes with big backyards, this popular inner suburb of Palmerston – a satellite city located around 30 minutes’ drive (or 23km) from Darwin – is growing in popularity.
A budget of $500-600,000 will secure you a good quality three or four bedroom home set amongst leafy streets. These types of properties will readily return a yield of 5%-plus, where families are keen to live within close proximity to the local schools and the Palmerston CBD, which is a 10-minute drive.
In response to the Northern Territory’s downward slide, Gunn is aiming to minimise expenditures and avoid oversupply by limiting the number of properties on the market. Thus, stock fell by almost 18% in the past 12 months.