A -8.25% increase in median property prices in DESERT SPRINGS, 870 has allowed this suburb to join the ranks of best performing suburbs in NT, settling at number 29th.
A steady increase in median property prices over a five-year period in the suburb translates to a 11.81% capital gain.
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 $667,500
The augmented property values in the suburb are trailing behind the territorial average of -3.63% in 2016.
Home owners selling their properties and realtors in DESERT SPRINGS usually have to wait an average of 100.9 days days before their assets are lifted off the market.
The NT suburb ranks 50th on the list of best yielding suburbs for rental properties in NT, posting a 0% return.
It also places places 22nd in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||-8.25%||N/A|
|Median 3 years||11.81%||N/A|
|Median 5 years||0.23%||N/A|
|10 years average annual||5.09%||N/A|
|Weekly media advert. rent||N/A||N/A|
|Time on Market||100.9 days||N/A|
|Gross Rental Yield Percent||N/A||N/A|