Giralang, 2617 ranked 27th in ACT when comparing growth in median property values or capital gain over the last 12 months. Giralang is one of 126 in our list for ACT
If we look at median property appreciation over just the last three months, Giralang has given property investors a paper return of 10.70%. This puts Suburb as 2 on a list of fastest fasting appreciating suburbs in ACT
LACK OF BUYER INTEREST may well be the reason that Giralang is offering property investors an average of -4.63. This rate of discount on properties puts Suburb at number 42th in terms of most discounted suburbs in ACT
The ACT suburb of Giralang, 2617 is in the Unincorporated ACT local government area.
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.”