MARRARA, 812 ranks 1042nd on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 13.93% for property investors.
The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $695,000.
Average weekly rents on listings have reached the $630 mark, reflecting a 4.71% increase in returns based on the current median price in MARRARA.
An average of 0.92 real estate transactions take place per month in MARRARA which translates to 11 per annum.
11 properties were sold in MARRARA in 2016, making it the 52nd most active market in NT based on total real estate transactions.
The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $335,000.
Investors saw the median home price rise to $335,000.
The downward trend in home prices in MARRARA, 812 averaged -7.66% per annum over a 3-year period.
MARRARA now ranks at the 11th place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in MARRARA are low, as opposed to average gains per annum over the past five years.
Real estate investors could earn a rental income of $355 based on current median home prices for the suburb.
It is expected for properties to spend some time on the market prior to a successful sale. In MARRARA, homes and units usually stay on listing for an average of 171.6 days.
20 properties were sold in MARRARA in 2016, making it the 15th most active market in NT based on total real estate transactions.
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