While Zuccoli,0832 ranked number 23th in NT for increase in median house value (annualised) increase, it is ranked 1st over the last 5 years.
Property investors looking for a bargain in Zuccoli should be aiming for at least -5.50% off the asking price, which is the average vendor discount being achieved at the moment.
With the median price for a house in Zuccoli being $425000 and the advertised rent reaching $530 the gross rental yield for property investors calculates out to be 6.48%
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Affordability combines with rising supply
Median house price: $182,000
Stock on market: 66.7%
12-month growth: 4.0%
At just over 10 years old, Zuccoli is one of the baby suburbs in Australia. It is located within Palmerston City, about 7 minutes’ drive south of the CBD, and about half an hour’s drive from Darwin.
Over the December 2017-2018 period, the number of houses on the market soared from 59 to 100. Coupled with Zuccoli’s extremely low prices, with a median of $182,000, the suburb has seen a little growth over the same period as values rose by 4%. This continued into the December 2018 quarter, which recorded 1.1% growth.
Zuccoli is a hotbed of natural beauty, as it is ringed by bushland and bordered by Mitchell Creek. Boardwalks enable excellent views of the water, and the many cycling trails weaving across the suburb along the leafy streets promote a healthy lifestyle and highlight Zuccoli’s open spaces.