At number 1292th in the list of Australian suburbs ordered by increase in median house value over the last year, Narrabundah, 2604 is in the top 40% with a property value increase of 8.99% recorded in median house prices.
If we look at median property appreciation over just the last three months, Narrabundah has given property investors a paper return of 6.40%. This puts Suburb as 10 on a list of fastest fasting appreciating suburbs in ACT
Our latest figures would indicate that property sellers in Narrabundah are currently offering property investors an average price cut of -2.86% below the asking price at the moment.
On average over the past year, suburb has had 4.33 sales per month, which equates to 52 per year.
Narrabundah, 2604’s gross rental yield is 3.22%
With a capital gain of -0.22% for the last 12 months, Narrabundah, 2604 has performed for property investments than its average annual 2.10% property growth over the last 5 years.
Across a shorter period, Narrabundah, 2604 has seen a median price increase of 0.44% over the last quarter.
Property investors looking for a bargain in Narrabundah should be aiming for at least -4.03% off the asking price, which is the average vendor discount being achieved at the moment.
In the last year 64 properties changed hands in Narrabundah, which puts it as the 16th most active market in ACT when comparing the number of sales per suburb.
A $445 per week rent on the median house gives suburb investors a gross yield of circa 5.04%, without taking into account capital value appreciation, which has been averaging out at 2.10%.