Gunn, NT home sold by mortgagee for $100,000 loss

A home in Gunn in the Northern Territory has been sold by its mortgagee in possession for a loss of $105,000.

The home at 17 Bryant Terrace, Gunn, the sold for $340,000, a substantial drop from its 2011 sale price of $445,000.

Located a minutes drive from the Palmerston CBD, the home features air conditioning and security screens throughout.

The home is also within 2 km of a number of schools and has parking for two cars.

Set on 480 sqm the home was listed as a rental as recently as June of this year at $460 per week.

The median price for a house in Gunn is $453,000, according to CoreLogic data, which put the annual change in median house price over the past ten years as 1.4%.

In November of 2017 another mortgagee sale took place in Gunn, 7 Bett Bett Court.

Set on 790 sqm the three bedroom two bathroom house sold for $440,000.

The sale also lost just over $100,000 dollars on its previously sale price as it went for $555,000 in 2010.