Question 1

Is Larrakeyah a nice place to live?

Accepted Answer

Larrakeyah sits on Darwin Harbour close to the city centre, with a foreshore outlook, marina precinct and the nearby defence barracks. The suburb mixes low-rise waterfront apartments and older single-storey houses tucked into leafy streets. Residents use the foreshore for walks and boating, and there is a dining strip around the marina. Pockets of parkland and mature trees give a relaxed coastal feel while central services and main road connections remain close at hand.

The community of 3,943 has a median age of 33 and a median household income of $2,372 a week (about $123,300 a year). Households are dominated by couples, with 52.2% without children and 40.0% with children, and dwellings are more often rented than owner-occupied (66.9% rented). The suburb includes significant defence infrastructure that has delivered upgraded base facilities, and the Northern Territory Infrastructure Plan lists local proposals for school, community and multi-dwelling projects. That mix tends to suit people who value water views, easy access to the city and a population made up of defence personnel, professionals, families and retirees.

Question 2

Is it expensive to live in Larrakeyah?

Accepted Answer

On the figures for Larrakeyah, buying and renting tell different stories. A median unit price of $446,000 works out to about 3.6 times a typical local household's annual income at the last Census (weekly household income $2,372), which is relatively affordable against local incomes. Renting looks tighter: a house rent of $850 a week would take roughly 36% of a typical local household's weekly income at the last Census, a sizeable share, while a unit at $690 a week would take about 29% of that income, a moderate share. How costly that feels 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 Larrakeyah a good place to invest?

Accepted Answer

Over the past 12 months in Larrakeyah both house and unit values rose strongly, with house values up 19.0% and unit values up 21.8%. Rent movements were smaller: house rents climbed 13.3% while unit rents rose 6.2%. That means unit owners saw the larger capital gain over the year, while houses delivered the stronger income growth; whether that mix fits your goals and circumstances depends on what you want from an investment.

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	N/A	$446K
Change in value Past 12 months	19.0%	21.8%
Sold Past 3 months	5	51
Median days on market Past 12 months	94	68
Average rent Past 12 months	$850	$690
Change in rent Past 12 months	13.3%	6.2%

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