Larrakeyah tops list of 2017 Darwin unit hotspots

Larrakeyah takes the equal top spot on a new list of Darwin's 2016/2017 hotspots for investing in units, developed by APM senior economist, Dr Andrew Wilson.

The current median price at Larrakeyah is $533,000 with an expected increase of 3% over the next 12 months, according to APM. 

An example of price movements in the area would be a two bedroom unit at 1A/2 Mauna Loa Street (above) currently on sale for $575,000, which is $42,000 above the median price. Whether it achieves its asking price remains to be seen. 

However, a two bedroom unit at 202B/2 Mauna Street (above) was recently sold last year for $575,000, $42,000 more than the median price, indicating that prices in the suburb may be on an upward trajectory. 

The list, published by Fairfax Media's The Smart Investor magazine, ranked Nightcliff as its equal best unit hotspot.

Suburb             Postcode     Median price      12 month forecast

Larrakeyah        0820            $533,000                         3%

Nightcliff           0810            $478,100                        3%

Darwin City       0800            $522,000                         2%

Coconut Grove  0810             $446,500                        2%

Lyons               0810             $760,000                        2%

Parap               0820             $545,000                         2%

Winnellie          0820             $325,000                          2%

Berrimah          0828             $550,000                          2%

Muirhead          0810             $345,000                          N/A