Araluen is an average performer in NT when comparing median price capital growth over the last year. Araluen gave property investors a average capital gain figure when compared to the rest of the state, with -4.20%.
When looking at the potential capital gains offered to property investors over the last 3 years, Araluen comes in at number 30th in NT.
Our latest figures would indicate that property sellers in Araluen are currently offering property investors an average price cut of -4.36% below the asking price at the moment.
In the last year 21 properties changed hands in Araluen, which puts it as the 25th most active market in NT when comparing the number of sales per suburb.
NT has seen average median house prices change by -10.68% which means that Araluen, 0870 has not done well for property investors by showing a capital gain of -11.37% over the last year
Across a shorter period, Araluen, 0870 has seen a median price increase of -10.15% over the last quarter.
Using the current median advertised rental of $425 and the average annual increase in value of a median property of 2.85%, investors should hope to achieve an overall return of 6.75%
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Rural suburb gets a boost
Median house price: $492,505
Three-year growth: -8.0%
Rental yield: 5.9%
Araluen is a rural suburb situated at least half a day’s drive, or a two-hour flight, south of Darwin, in Alice Springs. Named after the Aboriginal word for ‘place of waterlilies’, Araluen is not exactly within commuting distance of the Darwin CBD, however it is close to the Alice Springs Golf Club, the Reptile Centre, ANZAC Hill and Olive Pink Botanic Garden.
The median house price is $555,000, and the yearly growth rate is nearly 10%. Though Alice Springs is generally considered to offer little more than dust and desert, Araluen is close to West MacDonnell National Park, Finke George National Park and Owen Springs Reserve. It is home to around 3,000 people and roughly 75% of local housing stock is freestanding dwellings.