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Palmerston Municipality, NT

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Palmerston is a small town in Central Australia, which has been pushing for growth and development over the last few years. As the regional hub of the Northern Territory, it is a popular area for people to move to with a lot of opportunities on offer. However, if you’re planning on purchasing property in Palmerston, here are some points that you need to consider before making a purchase.

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The Palmerston property market is different to that of the capital, Darwin. Firstly, the area is divided into a number of small communities and these communities are subdivided into hundreds of individual lots. Each lot is usually just under five acres in size and this means that there are many opportunities to purchase land of varying sizes.

With Palmerston’s outback lifestyle being what it is, lots can be bought as a hobby farm using the property for income purposes if you are not interested in turning it into a primary residence. Another benefit of living in Palmerston is that properties bought can also be further subdivided.

The Palmerston Unemployment Rate is relatively low, which means that there is a surplus of jobs. Some of these jobs are based in Palmerston and can be available by job ad, however, there are also many on-site work opportunities as well. Palmerston is a great place for self-exploration, with plenty of diverse restaurants and cultural events to keep you entertained.

Another positive aspect of this town is the expanding possibilities that the town is positioned to offer. The market in Palmerston is growing rapidly and this is mainly due to the current number of companies wanting to set up shop in the town.

Palmerston is a relatively new town, and there are still a few homes that are sitting empty, which could be a potential negative for those who wish to purchase property in the area. Nevertheless, there are a lot of positives for those who plan on making this a permanent home and upgrading to something newer. It is worth taking a look, especially if you’re considering high cashflow opportunities as a real estate investor.

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Suburb Heatmap Analysis

Property Market Snapshot

This page provides an overview of the LGA real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this council area. You are able to drill down to suburb-level data and charts which visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

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Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Fundamentals
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Demand

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How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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Property Market in Palmerston Municipality, NT

What LGAs neighbour Palmerston Municipality, NT?

Palmerston Municipality borders Litchfield Municipality LGA and Elrundie Area.

How many people live in Palmerston Municipality, NT?

The Census usual resident population of the City of Palmerston LGA is approximately 34 000, living in approximately 13 000 dwellings with an average household size of 2.82.

What are current and planned infrastructure projects in Palmerston Municipality, NT?

Cox Peninsula Road and Darwin River Road are being upgraded by the Department of Infrastructure, Planning and Logistics. In order to improve safety a new roundabout has been proposed at the intersection of Emery Avenue and Chung Wah Terrace.

What is the availability of new land in Palmerston Municipality, NT?

What major retailers are there in Palmerston Municipality, NT?

There are four major shopping centres in Palmerston: Palmerston Shopping Centre, Bakewell Shopping Centre, Gateway Shopping Centre, and Oasis Shopping Village. These shopping centres contain 80 businesses, including Coles, Target, Big W, Best & Less, Woolworths.

What is the main industry in Palmerston Municipality, NT?

The largest industry employers in Palmerston are public administration & safety (about 21%), retail trade (9%), construction (approximately 7%), health care & social assistance (approximately 6%), and education & training (about 6%).

What are the dominant demographic groups in Palmerston Municipality, NT?

Out of approximately 34000 people living in Palmerston, male and female are nearly 51% and 49% respectively. Aboriginal and/or Torres Strait Islander people make up approximately 11% of population. The median age of people in Palmerston is 30 years.

How is unemployment rate trending in Palmerston Municipality, NT?

Palmerston’s labour force now accounts for approximately 15% of the total NT labour force. There is an increase in the rate of unemployment from just over 3% to 4.5% for the 8 year period.

Suburbs/localities in this Local Government Area: Farrar 0830, Gray 0830, Gunn 0832, Johnston 0832, Archer 0830, Marlow Lagoon 0830, Mitchell 0832, Moulden 0830, Palmerston City 0830, Bakewell 0832, Pinelands 0829, Rosebery 0832, Bellamack 0832, Woodroffe 0830, Yarrawonga 0830, Zuccoli 0832, Driver 0830, Durack 0830

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