Suburb Profile Report for Banks ACT (2906)

Banks House: Median price $537,500, Annual capital growth 2.66%, Number of sales 38, Weekly median advertised rent $450

Banks Unit: Median price $395,000, Annual capital growth 3.22%, Number of sales 56, Weekly median advertised rent $405

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

Source: CoreLogic

  • House Report
  • Unit Report

Over the last year, property investments in Banks, 2906 have given investors a capital gain of -4.44%. This compares very badly with the 5.43% for ACT as a whole.

While Banks,2906 ranked number 76th in ACT for increase in median house value (annualised) increase, it is ranked 54th over the last 5 years.

Sellers are offering property buyers an average discount of -1.46% to buyers in Banks at the moment, which is less than average for the rest of ACT.

Residents and property investors in Banks have been waiting around 49.2 days to sell a property.

Situated 21.62km from the CBD, Banks is one of Unincorporated ACT localities in the postcode 2906.

With a capital gain of 4.36% for the last 12 months, Banks, 2906 has performed for property investments than its average annual 3.22% property growth over the last 5 years.

A 2.60% growth in median value for property investors in Banks,2906 puts this suburb at number 28th in terms of best performing suburbs in ACT

Property investors looking for a bargain in Banks should be aiming for at least -2.89% off the asking price, which is the average vendor discount being achieved at the moment.

In the last year 56 properties changed hands in Banks, which puts it as the 17th most active market in ACT when comparing the number of sales per suburb.

Advertised rents are around the $405 mark per week – giving a return of 5.33% based on the median price in Suburb

HOUSE UNIT
$537,500 $395,000
-1.38% 0.64%
-4.44% 4.36%
2.66% 3.22%
$450 $405
38 56
4.35% 5.33%
49.2 86.84

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
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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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