Karama is a smaller residential area in Northern Territory within the Darwin local government area (postcode 0812). The area has roughly 4,803 residents and a mix of young professionals and families, with a median age of 35. Households earn a median income of $93K per year, with an average household size of 2.9 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 professionals, technicians & trades, clerical & administrative. Employment in the area leans toward public admin & safety and healthcare. The top ancestries reported are Australian, English, Aboriginal Australian.
Median house prices in Karama stand at $435,000, having declined steeply by 12.8% over the last twelve months. Units have a median price of $235,000 (-8.2% YoY). The median weekly rent is $293 (Census 2021). This gives a gross rental yield of approximately 3.5%. The median monthly mortgage repayment is $1,950.
Karama is served by 4 schools, including 3 primary, 1 secondary. The average ICSEA score is 888, which is well below the national average of 1,000. Public transport access includes 27 bus stops.
On the investment side, Karama shows a gross rental yield of approximately 3.5%, rated as moderate yield. Property prices sit below the state median ($435K/$711K), which can point to relative value. The price-to-income ratio of 4.7x is considered affordable. House prices have moved -12.8% 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.