Property investors who have had real estate in The Gap, 0870 should be ok 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 -1.39%
While The Gap,0870 ranked number 6th in NT for increase in median house value (annualised) increase, it is ranked 22th over the last 5 years.
Property buyers and investors in The Gap 0870 should be seeing an average reduction in asking price of around -4.60% . This means that The Gap is holding prices well when compared to other suburbs in NT.
Often selling an investment property can take time, and in The Gap the average time real estate has been on the market is 110.182 days.
Using the current median advertised rental of $480 and the average annual increase in value of a median property of 1.92%, investors should hope to achieve an overall return of 7.03%
At number 137th in the list of Australian suburbs ordered by increase in median house value over the last year, The Gap, 0870 is in the top 10% with a property value increase of 13.79% recorded in median house prices.
Across a shorter period, The Gap, 0870 has seen a median price increase of 14.78% over the last quarter.
Residents and property investors in The Gap have been waiting around 89 days to sell a property.
A $365 per week rent on the median house gives suburb investors a gross yield of circa 5.75%, without taking into account capital value appreciation, which has been averaging out at 2.33%.