Giralang is in the TOP 10% in ACT when comparing median price capital growth over the last year. Giralang gave property investors a very good capital gain figure when compared to the rest of the state, with 14.06%.
When looking at the potential capital gains offered to property investors over the last 3 years, Giralang comes in at number 26th in ACT.
State is the 8th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -3.89% offered to property buyers. Sellers in Giralang itself are offering an average vendor discount of -2.92% to real estate investors.
In the last year 35 properties changed hands in Giralang, which puts it as the 57th most active market in ACT when comparing the number of sales per suburb.
A $470 per week rent on the median house gives suburb investors a gross yield of circa 4.00%, without taking into account capital value appreciation, which has been averaging out at 4.96%.
Located within Canberra’s Belconnen district, Giralang lies around 8km north of the CBD and is well and truly a suburb of houses, with 93.7% of all occupied dwellings coming into the house category at the last ABS census.Full summary
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Located within Canberra’s Belconnen district, Giralang lies around 8km north of the CBD and is well and truly a suburb of houses, with 93.7% of all occupied dwellings coming into the house category at the last ABS census.
Affordability will be a big drawcard for investors considering purchasing a house in Giralang, as its median house price falls below the citywide figure.
The rental market here is strong, with yields sitting at around the 5% mark, and vacancy rates rarely lifting above 1% over the past five years according to SQM Research figures.
Those Canberra investors with an eye on that next renovation project will be interested to read RP Data's report on the suburb, as the data provider certainly thinks that Giralang has a host of properties with decent add-value potential:
“Houses within Giralang show a clear dominance towards long established dwellings," says the report. "In many cases these properties may offer significant renovation potential, whether it be internal, external or both. The land parcels within Giralang tend to be quite large, with the average lands size being between 800 and 900m2, suggesting there maybe scope for extensions of current dwellings, or subdivision for new dwellings.”