The post-budget guide to commercial property investing

Durack

POSTAL CODE: NT, 830
HOUSE

DURACK, 830 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Average median house prices in NT have risen as a whole, pulling DURACK, 830 values up and netting property investors a capital gain of 18.56% for the past year.

Investors saw the median home price rise to $699,500.

Profits due to an upward trend in home prices in the suburb averaged 8.3% per annum over a 3-year period.

DURACK 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 DURACK are low, as opposed to average gains per annum over the past five years.

Because of this real estate investors could earn a rental income of $750 based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In DURACK, homes and units usually stay on listing for an average of 66.1 days.

In 2016, 90 properties were sold in DURACK during the past year, making it the 2nd most active market in NT based on total real estate transactions.

Surburb overview

"Durack is a vibrant and family-friendly suburb located in the Northern Territory that falls under the jurisdiction of the City of Palmerston, offering a mix of suburban tranquillity and modern conveniences.

Durack is conveniently situated approximately 20 kilometres southeast of Darwin’s central business district (CBD). This prime location allows residents to enjoy the peaceful suburban lifestyle while remaining within a reasonable commuting distance to the heart of the city.

With a population of around 4,000 residents, Durack is a diverse and growing community. Families, professionals and retirees make up the suburb’s demographics, creating a harmonious blend of cultures and backgrounds.

Durack benefits from efficient public transportation links connecting it to Darwin’s CBD and neighbouring suburbs. Regular bus services make commuting to work or exploring the city convenient for residents.

The suburb is well-equipped with essential amenities. Durack Primary School and nearby Good Shepherd Lutheran College provide quality education options for families. The Palmerston Shopping Centre offers a diverse range of retail stores, dining options and entertainment facilities.

Durack presents a range of recreational opportunities. The Durack Lakes and surrounding green spaces provide ideal settings for picnics, sports and outdoor activities. Residents can also explore nearby playgrounds and walking trails.

Durack offers a comfortable suburban lifestyle with easy access to essential amenities and recreational opportunities. Its diverse community, educational institutions and proximity to Darwin make it an attractive choice for individuals and families seeking a peaceful yet well-connected place to call home in the territory. "

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