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Farrar, 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 Farrar, 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 “Farrar, NT 0830”

  1. The total adult population (15 years or older) of Farrar 0830 NT is 1,223, with a median age of 32. Of those, 41.54% are married, 10.63% are divorced or separated, 42.76% are single and 4.50% are widowed.

    The average household size is 2.9 people per dwelling, and the median household monthly income is estimated to be $10,964. The median monthly mortgage repayment for households in this suburb is $2,167 which is 19.76% of their earnings.

    Source: ABS Census Data (2021)

  2. Within the Northern Territory, the suburb of Farrar 0830 is home to approximately 595 households as of Q3 2023. Notable for its property market, the typical house prices in Farrar stand at a significant $652,242, with a median weekly rent pegged at $647. This presents an above-average indicative yield of 5.16%, immediately catching the attention of cashflow-centric property investors with yields surpassing 3%.

    The suburb carries an impressive IRSAD score of 1035 out of 1200. This suggests a strong socio-economic status within the area, pointing towards good access to economic resources, high income levels, and a significant presence of skilled professions. Notably, Farrar’s renter to owner ratio is at 42%. While this ratio is above the suggested 30%, it is still below the red flag ratio of 45% indicating a balanced ownership profile within the market.

    Substantiating this balanced profile is the suburb’s units to houses ratio of 9%. With the ratio substantially lower than the critical 50%, it highlights an excellent spread of properties and reduces the chances of an oversaturation of rentals. This is likely to maintain the competition among landlords for tenants at a healthy level, hence, preserving a more stable rental yield and attracting a family-centric demography which typically favours long tenancy periods.

    In terms of affordability, the index for houses is favourable at 23 years which is below the typical 30-year mark. This indicates that the majority of residents would be able to completely own properties within a shorter span, making the market relatively affordable for prospective property buyers.

    From a supply perspective, Farrar records a stock on market percentage of 0.21% for houses, well within the favourable range of less than 0.4%. This suggests low supply being met with substantial demand. Further strengthening this point, the suburb boasts an inventory level of 0.71 months, which again underscores a low supply situation. However, a building approval ratio of 0.0% indicates a potential future scarcity in supply which property investors should factor in.

    The average days on market for houses, as per the demand metrics, is significantly high at 208 days indicating lower demand. However, vacancy rates are within the acceptable range of 3.19%, while a buy search index of 4 settles within the neutral spectrum showing a moderate demand. This indicates that there may be a lot of property on the market, but there is also a reasonable level of interest.

    However, while analysing these metrics, it’s essential to monitor the trends continuously. Although some metrics might fall into unfavourable ranges on occasion, the majority of indicators in Farrar 0830’s property market are quite favourable. Therefore, the potential for both capital gains and positive cash flow seems quite promising for investors, depending on whether they prioritise short-term rental yield or long-term capital growth. The RCS or Relative Composite Score can be a handy tool in automating this research for efficient analysis.

    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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