Woodroffe (postcode 0830) is a compact suburb in Northern Territory within the Palmerston local government area. The area has roughly 3,175 residents and a blend of families and working-age professionals, with a median age of 33. Households earn a median income of $98K per year, with an average household size of 2.6 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 technicians & trades, clerical & administrative, community & personal service. Employment in the area leans toward public admin & safety and construction. The top ancestries reported are Australian, English, Aboriginal Australian.
The median house price in Woodroffe is $427,000, having softened modestly by 1.8% over the past year. Units have a median price of $278,000 (+19.4% YoY). The median weekly rent is $360 (Census 2021). This gives a gross rental yield of approximately 4.4%. The median monthly mortgage repayment is $1,800.
Woodroffe is served by 2 schools, including 2 primary. The average ICSEA score is 912, which is below the national average of 1,000. Public transport access includes 9 bus stops.
From an investment perspective, The gross rental yield works out to roughly 4.4%, which reads as moderate yield. Property prices sit below the state median ($427K/$711K), which can point to relative value. The price-to-income ratio of 4.3x is considered affordable. House prices have moved -1.8% 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.