5/7 Hogan Court, Gray NT 0830
5/7 Hogan Court, Gray NT 0830
2-bed unit | 1994 build | ground-level | courtyard living | solid rental demand
This unit offers a straightforward, low-maintenance layout that suits first-home buyers, downsizers, and investors alike. Its ground-level position and private courtyard give it a house-like feel while keeping upkeep minimal, which is uncommon in this price range. The 1994 construction is consistent with the surrounding low-rise stock, and the open-plan tiled living areas, built-in robes, and carport parking cover the essentials without excess. Being within a small complex, it benefits from a quiet setting while remaining close to schools, shops, and Palmerston’s amenities, making it a practical choice for those prioritising convenience and affordability over land size.
Condition and presentation may influence how quickly this unit sells, as older complexes often vary in upkeep between individual properties. The body corporate structure might add quarterly fees, which should be weighed against the convenience of shared maintenance. The absence of a dedicated outdoor area beyond a courtyard may limit appeal for some buyers, though the efficient internal layout and secure parking could offset that. Market sentiment for this type of unit tends to hold steady, given consistent rental demand and a limited supply of similar ground-level product, so value expectations should be formed around the property’s actual condition rather than broader price movements.
Detailed Independent Property Report prepared by PropCred Analyst team for 5/7 Hogan Court, Gray NT 0830
Checks found:
Value Risk
Liquidity Risk
Planning Risk
Income Risk
1
Execution Risk
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Market Insight
Gray, in Palmerston Region NT, shows a bifurcated market. House values are volatile: recent medians range from $419,006 to $537,500, with annual growth swinging between -5.3% and +24.5%. Units are firmer, up 10.4-11.3% to a $276,000-$295,000 median. Demand is driven by families and trades workers, with a young population and high rental reliance. Rental yields are strong at 5.8-6.65% for houses and 7.3-7.75% for units. Yet thin turnover—25-86 house sales annually—and a 130-170 day selling time indicate illiquidity. Mortgage dominance and rental reliance heighten rate sensitivity, but housing stock fell 61% year-on-year, supporting constrained supply.
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PropCred Estimated Value
Comparable Sales: 13/7 Hogan Court sold for $385,100; 8/9 Hogan Court sold for $360,000 | Property Price Band: $350K–$450K | Value Drivers: condition, layout, outdoor space
Bedrooms
2
Bathroom
1
Parking
1
Land
472m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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