Investment property in Braddon has done pretty 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 -1.58%
Braddon,2612 has offered an average of -1.58% return per annum in house price rises to property investors over the last three years.
Property investors looking for a bargain in Braddon should be aiming for at least -4.24% off the asking price, which is the average vendor discount being achieved at the moment.
A $430 per week rent on the median house gives suburb investors a gross yield of circa 5.13%, without taking into account capital value appreciation, which has been averaging out at 3.28%.
The Braddon unit market is worth checking out thanks to its level of affordability. Its median unit price may not be the cheapest in the country, but it compares extremely well with neighbouring Turner, and particularly Ainslie. Full summary
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The Braddon unit market is worth checking out thanks to its level of affordability. Its median unit price may not be the cheapest in the country, but it compares extremely well with neighbouring Turner, and particularly Ainslie.
Sitting right on top of Limestone and Northbourne Avenues, it’s certainly an accessible inner-northern suburb that’s characterised by long streets heading north to south towards London Circuit and Vernon Circle. Most of the suburb’s shops and amenities can be found south of Haig Park on Mort and Lonsdale Streets, as well as a few office blocks.
Looking at the listings for Braddon, offerings range from investment-only studios for around the $130,000-mark up to fully renovated three-bedroom apartments for closer to $600,000. With the sprawling Australian National University being just a stone’s throw away, your choice of property will most likely need to appeal to either the student or young professional market.
Renters made up half of the suburb’s population at last count in 2006, and the area’s vacancy rate has consistently been below 2% over the past five years, according to SQM Research. Looking at the ABS statistics for the Braddon SLA, if its population growth rate of 9.1% over four years is anything to go by, Braddon’s rental market should remain strong for some time.