Property investors who have had real estate in Desert Springs, 0870 should be relatively pleased with this NT suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 1.48%
Across a shorter period, Desert Springs, 0870 has seen a median price increase of 4.41% over the last quarter.
Our latest figures would indicate that property sellers in Desert Springs are currently offering property investors an average price cut of -5.94% below the asking price at the moment.
In the last year 20 properties changed hands in Desert Springs, which puts it as the 34th most active market in NT when comparing the number of sales per suburb.
Desert Springs is 12th on a list of best yielding suburbs for rents in NT with a 6.07% return
On average over the past year, suburb has had 0.92 sales per month, which equates to 11 per year.
Information supplied by:
Limited space in Alice Springs neighbour
Median house price: $667,500
Vacancy rate: 0.8%
Three-year growth: 4.6%
Desert Springs, on the banks of the Todd River in Alice Springs, is home to the Alice Springs Golf Club and Olive Pink Botanic Gardens, which specialises in the flora of Australia’s arid interior.
It’s also just a short drive from many of the Alice’s top tourist attractions, including the Alice Springs Reptile Centre and the National Pioneer Women’s Hall of Fame. With a vacancy rate of just 0.8%, Desert Springs is a solid choice for an investment property.
While unit prices are down by 2.5% this quarter to $332,000, rental yields are strong at 6.9%, and landlords can expect to achieve a median weekly rent of around $440. House prices have also been on a downward trend, dropping 4.6% in the past twelve months to $668,000, and stock levels are unchanged compared to last year.