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