Question 1

Is Bakewell a nice place to live?

Accepted Answer

Bakewell has a practical suburban character with a clear family focus. Streets of modern single-storey homes on modest lots are shaded by established trees, and neighbourhood parks, playgrounds and sporting ovals provide plenty of outdoor space. Schools, community facilities and Palmerston’s town centre are readily accessible, and good road links to Palmerston and onward to Darwin make commuting straightforward, so the suburb appeals to families and commuters after a quiet suburban lifestyle with easy access to regional amenities.

The suburb is home to 3,091 people, with a median age of 32 and a typical household income of $1,955 a week (roughly $101,660 a year). Families are the dominant household type — 45.5% are couple families with children and, with couple families without children (29.0%), they make up 74.5% of families. Homes are slightly more often owner-occupied than rented (53.3% owner-occupied, 46.7% rented). Local council works include new footpaths and pathway links around Maurice Terrace that connect to a fenced, permanent off-leash dog park, road resurfacing on Lambrick Avenue and a FiberSense sensor network covering Palmerston CBD and Bakewell to inform future planning. Whether Bakewell suits you comes down to what you’re looking for in a suburb.

Question 2

Is it expensive to live in Bakewell?

Accepted Answer

On these figures, buying a house in Bakewell at $683,000 works out to about 6.7 times a typical local household's annual income at the last Census, which places house buying well above local incomes. A median unit at $410,000 is about 4.0 times a local year's household income at the last Census, putting unit purchases somewhat above local incomes.

If you're renting, a house rent of $650 a week would take about 33.2% of a typical local household's weekly income at the last Census, a sizeable share, while a unit at $550 a week would take roughly 28.1%, a moderate share. Which of those feels expensive will depend on your own income and circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is Bakewell a good place to invest?

Accepted Answer

Over the past 12 months both values and rents in Bakewell moved sharply, with units leading the way. Median unit values climbed 38.4% while house values rose 22.1%; on the income side unit rents increased 14.6% and house rents increased 10.2%. For someone weighing Bakewell as an investment, the value figures point to capital growth and the rent figures show changes in rental income — in this year units outpaced houses on both counts. Whether that balance suits your goals and circumstances is for you to weigh up.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	$683K	$410K
Change in value Past 12 months	22.1%	38.4%
Sold Past 3 months	20	16
Median days on market Past 12 months	62	55
Average rent Past 12 months	$650	$550
Change in rent Past 12 months	10.2%	14.6%

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