Buchanan, NORTHERN-TERRITORY Real Estate & Suburb Profile

About Buchanan Real Estate

Buchanan ( bew-KAN-ən) is a locality in the Northern Territory of Australia located in the territory's west adjoining the border with the state of Western Australia about 612 kilometres (380 mi) south of the territory capital of Darwin and about 473 kilometres (294 mi) south-west of the municipal seat in Katherine.
The locality consists of the following land (from north to south) – the Malngin and the Malngin 2 Aboriginal Land Trusts and the Limbunya pastoral lease, the Kirkimbie, Bunda, Inverway and Riveren pastoral leases, and the Wallamunga and Birrindudu pastoral leases. It has an area of 24,252 square kilometres (9,364 sq mi).
The locality's boundaries and name were gazetted on 4 April 2007. Its name is derived from the Nathaniel Buchanan, a pioneering drover who first brought cattle overland from Queensland to the Northern Territory in 1877.
The 2016 Australian census which was conducted in August 2016 reports that Buchanan had a population of 55 people.
Buchanan is located within the federal division of Lingiari, the territory electoral division of Stuart and the local government area of the Victoria Daly Region.]

Property Investment Potential

When analyzing the local real estate landscape, Buchanan presents a dynamic opportunity. With median property prices sitting around $794,000 and delivering an average rental yield of 9.4%, the area caters nicely to both owner-occupiers and savvy investors. Properties typically spend an average of 39 days on the market, underscoring the consistent demand in this part of Northern Territory. For accurate financial planning, check out our investment calculators to estimate your potential returns.