Suburb Profile Report for Garran ACT (2605)

Garran House: Median price $920,000, Annual capital growth 5.26%, Number of sales 31, Weekly median advertised rent $718

Garran Unit: Median price $555,000, Annual capital growth 2.73%, Number of sales 33, Weekly median advertised rent $530

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report

Investment property in Garran has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -4.91%

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Garran has increased when compared to the 5 year average annual rate.

At number 525 in a list of fastest selling suburbs, Garran is in the TOP 20% of suburbs in Australia with an average of days on market 45.16 for properties listed there.

With the median price for a house in Garran being $920000 and the advertised rent reaching $717.5 the gross rental yield for property investors calculates out to be 4.06%

At number 1290th in the list of Australian suburbs ordered by increase in median house value over the last year, Garran, 2605 is in the BOTTOM 30% with a property value increase of -2.63% recorded in median house prices.

State is the 8th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.06% offered to property buyers. Sellers in Garran itself are offering an average vendor discount of -3.98% to real estate investors.

On average over the past year, suburb has had 2.75 sales per month, which equates to 33 per year.

With the median price for a house in Garran being $555000 and the advertised rent reaching $530 the gross rental yield for property investors calculates out to be 4.97%

Metrics i HOUSE UNIT
$920,000 $555,000
N/A N/A
-4.91% -2.63%
5.26% 2.73%
$718 $530
31 33
4.06% 4.97%
45.16 86.39

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
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Demographics
Total population 3198
Median household income ($/weekly) 2368
Median age of persons 41
Median housing loan repayment ($/monthly) 2383
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 397 12.4
    25-34 years 393 12.3
    35-44 years 441 13.8
    45-54 years 450 14.1
    55-64 years 357 11.2
    Others 1160 36.3
    Age Group
    Census Count Percent(%)
    Registered Married 1238 53.2
    Not Married 917 39.4
    Defacto Relationship 172 7.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 2112 67.8
    Croatia 70 2.2
    Indonesia 68 2.2
    United Kingdom 197 6.3
    Other 228 7.3
    Others 440 14.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 72 2.4
    Christianity 1839 61.9
    Hinduism 72 2.4
    Islam 90 3.0
    No Religion 876 29.5
    Others 24 0.8
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 130 12.4
    $2,000-$2,499 88 8.4
    $2,500-$2,999 181 17.3
    $3,000-$3,499 111 10.6
    $4,000 or more 151 14.4
    Others 386 36.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1113 44.0
    Not in the labour force 845 33.4
    Employed, worked part-time 401 15.9
    Employed, away from work 125 4.9
    Unemployed, looking for work 45 1.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 298 18.2
    Professionals 687 41.9
    Technicians & trades workers 106 6.5
    Community & personal service workers 130 7.9
    Clerical & administrative workers 262 16.0
    Others 157 9.6
    Occupation
    Census Count Percent(%)
    Pre-school 32 3.7
    Infants/Primary 266 31.1
    Secondary 233 27.3
    Technical or Further Educational Institution 56 6.6
    University or other Tertiary Institutions 236 27.6
    Others 31 3.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2142 73.8
    Flat, unit or apartment 520 17.9
    Semi-detached, row or terrace house, townhouse 240 8.3
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 437 37.6
    Rented 393 33.8
    Being purchased 321 27.6
    Other tenure type 11 0.9
    Tenure Type
Census 2011, ABS
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