Suburb Profile Report for The Gap NT (0870)

The Gap House: Median price $355,000, Annual capital growth 1.92%, Number of sales 16, Weekly median advertised rent $480

The Gap Unit: Median price $330,000, Annual capital growth 2.33%, Number of sales 17, Weekly median advertised rent $365

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Jan 2020 as supplied by CoreLogic. Data is reported to the period ending Oct 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

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%.

Metrics i HOUSE UNIT
$355,000 $330,000
4.41% 14.78%
-1.39% 13.79%
1.92% 2.33%
$480 $365
16 17
7.03% 5.75%
110.181818181818 89

Source: Monthly data update for Jan 2020 as supplied by CoreLogic. Data is reported to the period ending Oct 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (H), Balanced (U)
Find a mortgage broker in The Gap NT
Demographics
Total population 1692
Median household income ($/weekly) 1455
Median age of persons 31
Median housing loan repayment ($/monthly) 1733
Average household size 2.2
  • Census Count Percent(%)
    20-24 years 157 9.3
    25-34 years 426 25.2
    35-44 years 294 17.4
    45-54 years 223 13.2
    55-64 years 165 9.7
    Others 428 25.3
    Age Group
    Census Count Percent(%)
    Not Married 589 55.9
    Registered Married 305 28.9
    Defacto Relationship 160 15.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 1019 69.7
    Indonesia 98 6.7
    Papua New Guinea 59 4.0
    United Kingdom 55 3.8
    Other 123 8.4
    Others 108 7.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 51 3.7
    Christianity 874 63.0
    Hinduism 42 3.0
    Other Religious Groups 23 1.7
    No Religion 387 27.9
    Others 11 0.8
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 65 12.7
    $1,250-$1,499 55 10.7
    $1,500-$1,999 85 16.6
    $2,000-$2,499 73 14.3
    $2,500-$2,999 44 8.6
    Others 190 37.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 704 57.9
    Not in the labour force 261 21.5
    Employed, worked part-time 159 13.1
    Employed, away from work 66 5.4
    Unemployed, looking for work 26 2.1
    Person Characteristics
  • Census Count Percent(%)
    Professionals 296 32.0
    Technicians & trades workers 118 12.8
    Community & personal service workers 142 15.4
    Clerical & administrative workers 93 10.1
    Labourers 87 9.4
    Others 188 20.3
    Occupation
    Census Count Percent(%)
    Pre-school 23 7.7
    Infants/Primary 95 32.0
    Secondary 55 18.5
    Technical or Further Educational Institution 40 13.5
    University or other Tertiary Institutions 68 22.9
    Others 16 5.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 666 50.1
    Flat, unit or apartment 517 38.9
    Semi-detached, row or terrace house, townhouse 123 9.3
    Improvised home, tent, sleepers out 23 1.7
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 329 58.1
    Being purchased 178 31.4
    Fully owned 53 9.4
    Other tenure type 6 1.1
    Tenure Type
Census 2011, ABS
Chart Table