AREA REPORTS

Parap

Suburb Profile

Parap - FREE SUBURB PROFILE REPORT
POSTAL CODE: NT,820

house
unit

A 5% increase in median property prices in PARAP, 820 has allowed this suburb to join the ranks of best performing suburbs in NT, settling at number 7th.

It 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 $735,000

The augmented property values in the suburb are trailing above the territorial average of -4.35% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $650.

Home owners selling their properties and realtors in PARAP usually have to wait an average of 77.0 days days before their assets are lifted off the market.

The NT suburb ranks 45th on the list of best yielding suburbs for rental properties in NT, posting a 4.6% return.

It also places places 16th in Australia based on median property value growth during the quarter.

Data report can be found below

KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $735,000 $340,000
GROWTH REPORT
Median Quarterly 0.68% -27.66%
Median 12 month 5% -16.56%
Median 3 years -11.98% -31.31%
Median 5 years -6.96% -4.91%
10 years average annual 2.18% 7.61%
Weekly media advert. rent $650 $430
Time on Market 77.0 days 160.7 days
Gross Rental Yield Percent 4.6% 6.58%
demographics (median values)
Total Population
1803
Weekly Household Income
1267
Household Size
2.30
demographics
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