At number 2077th in the list of Australian suburbs ordered by increase in median house value over the last year, Giralang, 2617 is in the top half with a property value increase of 4.39% recorded in median house prices.
While Giralang,2617 ranked number 14th in ACT for increase in median house value (annualised) increase, it is ranked 34th over the last 5 years.
Sellers are offering property buyers an average discount of -2.93% to buyers in Giralang at the moment, which is less than average for the rest of ACT.
At number 710 in a list of fastest selling suburbs, Giralang is in the TOP 20% of suburbs in Australia with an average of days on market 55.84 for properties listed there.
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.”