Suburb Profile Report for Franklin ACT (2913)

Franklin House: Median price $680,000, Annual capital growth 6.16%, Number of sales 46, Weekly median advertised rent $500

Franklin Unit: Median price $350,000, Annual capital growth 0.97%, Number of sales 52, Weekly median advertised rent $370

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

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.

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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.Full summary

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.

Close
HOUSE UNIT
$680,000 $350,000
4.62% -0.82%
8.93% -5.41%
6.16% 0.97%
$500 $370
46 52
3.82% 5.50%
43.65 89.04

Source: CoreLogic

DSR Score for property investment : Very good (H), Good (U)
Find a mortgage broker in Franklin ACT
Demographics
Total population 3807
Median household income ($/weekly) 2292
Median age of persons 28
Median housing loan repayment ($/monthly) 2600
Average household size 2.9
  • Census Count Percent(%)
    0-4 years 429 11.3
    5-14 years 462 12.1
    20-24 years 384 10.1
    25-34 years 1144 30.1
    35-44 years 664 17.5
    Others 721 19.0
    Age Group
    Census Count Percent(%)
    Registered Married 1469 53.9
    Not Married 914 33.5
    Defacto Relationship 342 12.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 2037 55.6
    Croatia 295 8.1
    Indonesia 252 6.9
    Viet Nam 102 2.8
    Other 378 10.3
    Others 600 16.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 248 7.0
    Christianity 1624 45.9
    Hinduism 322 9.1
    Islam 277 7.8
    No Religion 1012 28.6
    Others 54 1.5
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 167 14.6
    $2,000-$2,499 179 15.6
    $2,500-$2,999 188 16.4
    $3,000-$3,499 152 13.3
    $4,000 or more 92 8.0
    Others 368 32.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1676 59.9
    Not in the labour force 486 17.4
    Employed, worked part-time 434 15.5
    Employed, away from work 125 4.5
    Unemployed, looking for work 79 2.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 335 15.0
    Professionals 762 34.1
    Technicians & trades workers 231 10.3
    Community & personal service workers 171 7.6
    Clerical & administrative workers 409 18.3
    Others 328 14.7
    Occupation
    Census Count Percent(%)
    Pre-school 90 7.9
    Infants/Primary 307 26.9
    Secondary 191 16.7
    Technical or Further Educational Institution 134 11.7
    University or other Tertiary Institutions 373 32.7
    Others 46 4.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3177 87.3
    Semi-detached, row or terrace house, townhouse 299 8.2
    Flat, unit or apartment 165 4.5
    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 791 64.4
    Rented 362 29.5
    Fully owned 76 6.2
    Other tenure type 0 0.0
    Tenure Type
Census 2011, ABS
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