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 $440,000.
Investors saw the median home price rise to $440,000.
The downward trend in home prices in THE GARDENS, 820 averaged -10.52% per annum over a 3-year period.
THE GARDENS now ranks at the 17th 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 THE GARDENS are low, as opposed to average gains per annum over the past five years.
Real estate investors could earn a rental income of $440 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 THE GARDENS, homes and units usually stay on listing for an average of 0.0 days.
13 properties were sold in THE GARDENS in 2016, making it the 22nd most active market in NT based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||N/A||-22.81%|
|Median 3 years||N/A||-31.57%|
|Median 5 years||N/A||0%|
|10 years average annual||N/A||4.64%|
|Weekly media advert. rent||N/A||$440|
|Time on Market||N/A||0.0 days|
|Gross Rental Yield Percent||N/A||5.2%|