Investment property in Gunn has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 10.14%
Gunn,0832 has offered an average of 10.14% return per annum in house price rises to property investors over the last three years.
The most recent median price for Gunn is $475000, with sellers offering an average of -3.84% off the asking price.
A $402.5 per week rent on the median house gives suburb investors a gross yield of circa 5.51%, without taking into account capital value appreciation, which has been averaging out at 0.07%.
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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.