With a capital gain of 17.75% for the last 12 months, Franklin, 2913 has performed for property investments than its average annual 6.25% property growth over the last 5 years.
Franklin,2913 has offered an average of 17.75% return per annum in house price rises to property investors over the last three years.
The most recent median price for Franklin is $680000, with sellers offering an average of -3.69% off the asking price.
On average over the past year, suburb has had 4.00 sales per month, which equates to 48 per year.
Franklin, 2913’s gross rental yield is 3.96%
Giving property investors a an unimpressive capital gain of -3.71% for the last year, Franklin, 2913 is the 1361th highest performer in Australia in this respect.
When looking at the potential capital gains offered to property investors over the last 3 years, Franklin comes in at number 57th in ACT.
Sellers are offering property buyers an average discount of -2.42% to buyers in Franklin at the moment, which is less than average for the rest of ACT.
A $360 per week rent on the median house gives suburb investors a gross yield of circa 5.33%, without taking into account capital value appreciation, which has been averaging out at 0.67%.
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.