With a capital gain of 10.94% for the last 12 months, Franklin, 2913 has performed for property investments than its average annual 4.62% property growth over the last 5 years.
Franklin,2913 was ranked 2259 in Australia by increase in median property value over the quarter.
The most recent median price for Franklin is $649000, with sellers offering an average of -3.04% off the asking price.
Giving property investors a an average capital gain of 4.01% for the last year, Franklin, 2913 is the 861th highest performer in Australia in this respect.
A 26.18% growth in median value for property investors in Franklin,2913 puts this suburb at number 20th in terms of best performing suburbs in ACT
Our latest figures would indicate that property sellers in Franklin are currently offering property investors an average price cut of -2.52% below the asking price at the moment.
Residents and property investors in Franklin have been waiting around 98.21 days to sell a property.
Advertised rents are around the $362.5 mark per week – giving a return of 4.54% based on the median price in Suburb
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
Information supplied by:
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.