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Driver, NT 0830

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Driver, NT 0830 to help you make an informed decision about your property choice in this suburb.





Market Snapshot

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

Buy 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

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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0 thoughts on “Driver, NT 0830”

  1. The total adult population (15 years or older) of Driver 0830 NT is 2,123, with a median age of 33. Of those, 40.79% are married, 13.47% are divorced or separated, 43.43% are single and 2.31% are widowed.

    The average household size is 2.7 people per dwelling, and the median household monthly income is estimated to be $8,732. The median monthly mortgage repayment for households in this suburb is $1,950 which is 22.33% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburb of Driver, postal code 0830, nestles in the Northern Territory of Australia. A vibrant neighbourhood, this community comprises an estimated 1176 households. As we traverse into the third quarter of 2023, a closer look at the housing market in this region reveals noteworthy statistics.

    To begin, the typical house price in Driver sits at $489,620. These houses command a median weekly rent of $562. You can use these figures to calculate the indicative yield – an appealing 5.97%; well above the 3% threshold. This offers an enticing prospect to cashflow-focused property investors.

    Peeling back the layers, let’s delve into the socio-economic makeup of Driver’s community. The IRSAD score, a valuable insight into the socio-economic resources and professional skills of the population, comes in at 951 out of 1200. This connotes a well-rounded neighbourhood with a relatively-solid economic base amongst residents.

    A crucial factor in evaluating a property market’s viability lies within the renter-to-owner ratio. In Driver, this ratio sits at an elevated 46%. However, this must be weighed against the units-to-houses ratio which, when a lower threshold is favourable, stands at a comfortably low 25% enabling lower competition among landlords for tenants.

    The Affordability Index for houses in Driver stands at 22 years, under the traditional 30-year mortgage guideline, hinting at this market’s increased affordability and appeal for residents.

    Evaluating the market supply, the stock-on-market percentage for houses is 0.66%, suggesting a balanced inventory. This assumption is supported by the inventory level at 1.71 months – an indication of a fairly absorbent market. The quiet building approvals’ ratio at 0.26% indicates a stable supply of new dwellings.

    However, the average days on market (DoM) for houses coming in at 165 suggests a sluggish demand. Merging this with the vacancy rate of 2.03%, we infer a neutral demand in the market, balanced by an average buy search index of 4.

    In conclusion, while some metrics lay in the unfavourable range, a majority of the metrics including the impressive indicative yield, attractive IRSAD score, low unit-to-house ratio, and commendable affordability index paint a potentially promising picture for property investors venturing into the Driver. As always, keeping a close watch on the evolving market trends is crucial. For additional aid, consider the RCS metric developed by HtAG Analytics which synthesizes over 80 metrics to streamline your property market research.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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