Located in Northern Territory within the Palmerston local government area, Bakewell is a smaller suburb (postcode 0832). The area has roughly 3,091 residents and a mix of families and early-career residents, with a median age of 32. Households earn a median income of $102K per year, with an average household size of 2.5 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.4% year-on-year at the LGA level. NT employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. NT also had 4 Commonwealth-backed major projects under construction, 3 underway, and 5 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are clerical & administrative, technicians & trades, professionals. Employment in the area leans toward public admin & safety and healthcare. The top ancestries reported are Australian, English, Aboriginal Australian.
The median house price in Bakewell is $485,000, having eased back by 0.9% over the past year. Units have a median price of $257,000 (+0.8% YoY). The median weekly rent is $380 (Census 2021). This gives a gross rental yield of approximately 4.1%. The median monthly mortgage repayment is $1,742.
Bakewell is served by 1 school, including 1 primary. The average ICSEA score is 978, which is around the national average of 1,000. Public transport access includes 7 bus stops.
From an investment perspective, The gross rental yield works out to roughly 4.1%, which reads as moderate yield. Property prices sit below the state median ($485K/$711K), which can point to relative value. The price-to-income ratio of 4.8x is considered affordable. House prices have moved -0.9% year-on-year. Population growth of +1.4% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.