Franklin is an average performer in ACT when comparing median price capital growth over the last year. Franklin gave property investors a good capital gain figure when compared to the rest of the state, with 8.20%.
Taking the average capital gain, or increase in median house value, Franklin,2913 has racked up an average of 8.20% over the period. This ranks it number 1959th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in Franklin are currently offering property investors an average price cut of -3.08% below the asking price at the moment.
A $495 per week rent on the median house gives suburb investors a gross yield of circa 3.90%, without taking into account capital value appreciation, which has been averaging out at 5.78%.
At number 1385th in the list of Australian suburbs ordered by increase in median house value over the last year, Franklin, 2913 is in the BOTTOM 30% with a property value increase of -4.75% recorded in median house prices.
Taking the average capital gain, or increase in median house value, Franklin,2913 has racked up an average of -4.75% over the period. This ranks it number 1438th in the whole country for real estate investors looking at median house price increases.
Property buyers and investors in Franklin 2913 should be seeing an average reduction in asking price of around -2.69% . This means that Franklin is holding prices well when compared to other suburbs in ACT.
At number 992 in a list of fastest selling suburbs, Franklin is in the bottom 40% of suburbs in Australia with an average of days on market 89.77 for properties listed there.
Advertised rents are around the $365 mark per week – giving a return of 5.42% 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
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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.