Question 1

Is Fannie Bay a nice place to live?

Accepted Answer

Fannie Bay is a coastal inner suburb of Darwin on the northern shore of Darwin Harbour, centred on the long-lived Fannie Bay Racecourse and the historic Fannie Bay Gaol. It has a strong waterside character with foreshore reserves, walking paths and outlooks that draw people outdoors for evening sunsets and weekend picnics. Housing ranges from older single-storey timber cottages on generous blocks to more recent waterfront homes and low-rise apartments, creating a relaxed village feel.

The community of 2,875 people has a median age of 39 and a typical household income of $2,213 a week, about $115,100 a year. Families, professionals and retirees live here, with couple families without children the largest household type and couple families with children also well represented. Local amenities include boat ramps at Vestey’s Beach and the concrete ramp at Conacher Street beside the Darwin Ski Club, and council-led sports facility upgrades are planned at Fannie Bay Oval. Easy road access keeps shopping and dining nearby while the city remains close.

Question 2

Is it expensive to live in Fannie Bay?

Accepted Answer

Buying in Fannie Bay looks mixed against local incomes at the last Census. The median house price of $817,500 is about 7.1 times a typical local household's annual income at the last Census, which sits in the "well above" band for price multiples. The median unit price of $452,500 is about 3.9 times a typical local annual household income, nearer the more affordable end of the scale against local incomes at the last Census.

On rents, a house rent of $835 a week would take about 38% of a typical local household's weekly income at the last Census, a sizeable share, while a unit rent of $550 a week would take about 25%, a moderate share. Which of these matters most will depend on whether you plan to rent or buy and on your own 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 Fannie Bay a good place to invest?

Accepted Answer

Over the past year the figures show strong rises in property values in Fannie Bay. Median unit values climbed 23.0% and median house values rose 19.0%, both large increases over 12 months.

Rents tell a different story: house rents edged down 1.8% while unit rents grew 10.0%. For someone focused on rental income, the unit numbers are the relevant ones, while both value figures speak to capital growth over the year. How that mix fits 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	$818K	$453K
Change in value Past 12 months	19.0%	23.0%
Sold Past 3 months	10	20
Median days on market Past 12 months	84	75
Average rent Past 12 months	$835	$550
Change in rent Past 12 months	-1.8%	10.0%

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