ACT has seen average median house prices change by 5.75% which means that Banks, 2906 has done well for property investors by showing a capital gain of -1.17% over the last year
Over the longer term, Banks has seen property prices show investors a -1.96% return over the last 3 years. This is an improvement over the last 12 months
State is the 8th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.22% offered to property buyers. Sellers in Banks itself are offering an average vendor discount of -1.57% to real estate investors.
Often selling an investment property can take time, and in Banks the average time real estate has been on the market is 56.4 days.
Investment property in Banks 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 3.95%
A 2.60% growth in median value for property investors in Banks,2906 puts this suburb at number 45th in terms of best performing suburbs in ACT
Property investors looking for a bargain in Banks should be aiming for at least -3.06% off the asking price, which is the average vendor discount being achieved at the moment.
The ACT suburb of Banks, 2906 is in the Unincorporated ACT local government area.