Bakewell

POSTAL CODE: NT, 832

HOUSE

UNIT

Property investors have seen a 6.86% gain in BAKEWELL based on an increase in median home prices for the past three months.

Homeowners and real estate investors betting on BAKEWELL, 832 can rest assured about this NT suburb's performance. The suburb saw median home prices rise by 13.54%.

Based on its average 5-year and quarterly capital gains BAKEWELL, 832 saw average growth in the long term.

The NT 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 $545,000

Profits averaged 5.33% per annum over a 3-year period, due to an upward trend in home prices in BAKEWELL, 832.

This means, real estate investors could earn a rental income of $650 based on current median home prices for the suburb.

The gross rental yield in BAKEWELL, 832 is 6.2%.

An average of 6.75 real estate transactions take place per month in BAKEWELL which translates to 81 per annum.

Property investments in BAKEWELL fare well against the rest of the country last year, registering a median home price increase of 37.17%.

Figures from the previous quarter show that capital gains for real estate buyers in BAKEWELL are low, as opposed to average gains per annum over the past five years.

Based on its average 5-year and quarterly capital gains BAKEWELL, 832 saw average growth in the long term.

This means, real estate investors could earn a rental income of $527.5 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 BAKEWELL, homes and units usually stay on listing for an average of 44.3 days.

the NT 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 $387,500

Investors saw the median home price rise to $387,500.

BAKEWELL ranks 26th on the list of best yielding suburbs for rental properties in NT, posting a 7.08% return.

Surburb overview

"Bakewell is a vibrant and family-friendly suburb part of the City of Palmerston and is located in the Northern Territory, offering a harmonious blend of community living and modern amenities.

Bakewell is situated approximately 25 kilometres southeast of Darwin’s central business district (CBD). While it provides a peaceful suburban atmosphere, it’s still within a reasonable commuting distance to the heart of the city.

With a population of around 3,500 residents, Bakewell is a diverse and welcoming community. Families, professionals and retirees make up the suburb’s demographics, creating a rich tapestry of cultures and backgrounds.

Bakewell benefits from a well-connected public transportation system, with regular bus services linking it to Darwin’s CBD and neighbouring suburbs. This makes commuting and exploring the city convenient for residents.

Bakewell boasts a range of essential amenities. Families with children have access to quality education through institutions like Bakewell Primary School and Good Shepherd Lutheran College. The nearby Gateway Shopping Centre provides a variety of retail stores, dining options and entertainment choices.

The suburb offers plenty of recreational opportunities. Bakewell Park is a popular destination for picnics, sports and outdoor play. For those who enjoy being active, the Palmerston Water Park is nearby, providing a fun way to cool off during the hot NT summer.

Bakewell is a thriving suburb that combines the tranquillity of suburban living with access to essential amenities and recreational opportunities. Its diverse community, educational options and proximity to Darwin make it an appealing choice for individuals and families seeking a comfortable and connected lifestyle in the territory. "

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$545,000	$387,500
Growth Report
Median Quarterly	6.86%	1.89%
Median 12 month	13.54%	37.17%
Median 3 years	16.08%	38.39%
Median 5 years	26.74%	89.02%
10 years average annual	0.84%	5.29%
Weekly media advert. rent	$650	$528
Time on Market	33.9 days	44.3 days
Gross Rental Yield Percent	6.2%	7.08%

Demographics (Median Values)*

Total Population 15570

Weekly Household Income 2356

Household Size 2.90

Average Age 28

Monthly Loan Repayment 2474

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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