Suburb Profile Report for Banks ACT (2906)

Banks House: Median price $585,000, Annual capital growth 3.22%, Number of sales 41, Weekly median advertised rent $460

Banks Unit: Median price $406,000, Annual capital growth 3.28%, Number of sales 43, Weekly median advertised rent $420

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report

Banks is an average performer in ACT when comparing median price capital growth over the last year. Banks gave property investors a good capital gain figure when compared to the rest of the state, with 9.35%.

Banks,2906 was ranked 616 in Australia by increase in median property value over the quarter.

Sellers are offering property buyers an average discount of -2.99% to buyers in Banks at the moment, which is less than average for the rest of ACT.

Banks, 2906’s gross rental yield is 4.09%

Banks has had a pretty average year for property investment returns compared to the rest of ACT, giving investors a capital gain of 4.77% to date .

While Banks,2906 ranked number 26th in ACT for increase in median house value (annualised) increase, it is ranked 20th over the last 5 years.

Property investors looking for a bargain in Banks should be aiming for at least -2.77% off the asking price, which is the average vendor discount being achieved at the moment.

Metrics i HOUSE UNIT
$585,000 $406,000
6.17% 2.14%
9.35% 4.77%
3.22% 3.28%
$460 $420
41 43
4.09% 5.38%
67.9 49.67

Source: CoreLogic

DSR Score for property investment : Good (H), Very good (U)
Find a mortgage broker in Banks ACT
Demographics
Total population 5060
Median household income ($/weekly) 1964
Median age of persons 30
Median housing loan repayment ($/monthly) 2167
Average household size 2.9
  • Census Count Percent(%)
    0-4 years 487 9.6
    5-14 years 802 15.8
    25-34 years 840 16.6
    35-44 years 852 16.8
    45-54 years 734 14.5
    Others 1346 26.6
    Age Group
    Census Count Percent(%)
    Registered Married 1757 50.3
    Not Married 1293 37.0
    Defacto Relationship 443 12.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 3901 81.8
    Papua New Guinea 46 1.0
    Philippines 53 1.1
    United Kingdom 231 4.8
    Other 205 4.3
    Others 335 7.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 162 3.5
    Christianity 3099 67.5
    Hinduism 29 0.6
    Islam 98 2.1
    No Religion 1172 25.5
    Others 30 0.7
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 122 8.1
    $1,500-$1,999 267 17.7
    $2,000-$2,499 224 14.8
    $2,500-$2,999 201 13.3
    $3,000-$3,499 146 9.7
    Others 549 36.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2004 56.2
    Not in the labour force 663 18.6
    Employed, worked part-time 633 17.8
    Employed, away from work 168 4.7
    Unemployed, looking for work 97 2.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 370 13.2
    Professionals 531 18.9
    Technicians & trades workers 402 14.3
    Community & personal service workers 284 10.1
    Clerical & administrative workers 629 22.4
    Others 595 21.2
    Occupation
    Census Count Percent(%)
    Pre-school 103 7.7
    Infants/Primary 491 36.6
    Secondary 428 31.9
    Technical or Further Educational Institution 139 10.4
    University or other Tertiary Institutions 138 10.3
    Others 41 3.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4244 89.3
    Semi-detached, row or terrace house, townhouse 510 10.7
    Flat, unit or apartment 0 0.0
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1053 64.3
    Rented 318 19.4
    Fully owned 260 15.9
    Other tenure type 6 0.4
    Tenure Type
Census 2011, ABS
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