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