If you compare the increase in value of investment property in Giralang, 2617 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this ACT suburb was 14.01%.
When looking at the potential capital gains offered to property investors over the last 3 years, Giralang comes in at number 30th in ACT.
Property buyers and investors in Giralang 2617 should be seeing an average reduction in asking price of around -3.71% . This means that Giralang is holding prices well when compared to other suburbs in ACT.
In the last year 31 properties changed hands in Giralang, which puts it as the 67th most active market in ACT when comparing the number of sales per suburb.
With the median price for a house in Giralang being $610250 and the advertised rent reaching $472.5 the gross rental yield for property investors calculates out to be 4.03%
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.”