Investment property in Giralang has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 7.41%
When looking at the potential capital gains offered to property investors over the last 3 years, Giralang comes in at number 29th in ACT.
A $475 per week rent on the median house gives suburb investors a gross yield of circa 4.12%, without taking into account capital value appreciation, which has been averaging out at 4.74%.
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.”