A -14.89% 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 42nd.
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 $700,000
The augmented property values in the suburb are trailing behind the territorial average of -4.28% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $750.
Home owners selling their properties and realtors in PARAP usually have to wait an average of 97.4 days days before their assets are lifted off the market.
The NT suburb ranks 17th on the list of best yielding suburbs for rental properties in NT, posting a 5.57% return.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||-14.89%||20.95%|
|Median 3 years||-13.87%||-23.5%|
|Median 5 years||-8.62%||-8.67%|
|10 years average annual||2.28%||9.38%|
|Weekly media advert. rent||$750||$445|
|Time on Market||97.4 days||108.4 days|
|Gross Rental Yield Percent||5.57%||5.17%|