Franklin has had a pretty good year for property investment returns compared to the rest of ACT, giving investors a capital gain of 8.93% to date .
Franklin,2913 was ranked 803 in Australia by increase in median property value over the quarter.
Our latest figures would indicate that property sellers in Franklin are currently offering property investors an average price cut of -3.26% below the asking price at the moment.
In the last year 46 properties changed hands in Franklin, which puts it as the 33th most active market in ACT when comparing the number of sales per suburb.
ACT has seen average median house prices change by -1.90% which means that Franklin, 2913 has not done well for property investors by showing a capital gain of -5.41% over the last year
While Franklin,2913 ranked number 43th in ACT for increase in median house value (annualised) increase, it is ranked 39th over the last 5 years.
At number 32th of ACT’s most discounted properties, Franklin is in the TOP 30% of the state/territory when listing in order of most discounted to least.
Often selling an investment property can take time, and in Franklin the average time real estate has been on the market is 89.04 days.
At around 10km north of the Canberra CBD, Century 21 City Walk principal Brian NanCarrow Nancarrow rates the new suburb of Franklin for its convenient location.Full summary
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At around 10km north of the Canberra CBD, Century 21 City Walk principal Brian NanCarrow Nancarrow rates the new suburb of Franklin for its convenient location.
“Following the old rules of property as far as location goes, it’s well placed,” he says. “I think Franklin is a hotspot in Canberra because it’s close to the city, it’s a brand new suburb, there are apartments coming on there and the houses are quite good.”
He adds that there is a small industrial estate in the neighbouring suburb of Mitchell, which is on the way to the city, but Franklin’s desirable location has prevented any industrial-related stigma from taking hold and deterring buyers. As an indication of the high level of demand for Franklin’s properties, page visits for recently listed properties on realestate.com.au number in the hundreds.
Franklin’s property market is dominated by young families and upgraders and, being a suburb that was only established in 2007, its listings feature off the plan developments and new properties. Franklin is also one of a handful of Canberra suburbs whose properties have been installed with fibre optic connections well in advance of the national broadband network (NBN), making it home to what telecommunications provider TransACT calls “the next generation in communication services”.
The amenities of the Gungahlin Town Centre are a couple of kilometres north, past the Mulanggari Grasslands Nature Reserve, and the ACT government’s plan to move 500 public servants to a new office block in Gungahlin indicates the territory’s plans to support employment in the area.
Census data put the percentage of renters in the Franklin post code area at 26% in 2006, with mortgage holders making up 54% of the population and unencumbered owner-occupiers making up 20% of residents.