Palmerston has had a very poor year for property investment returns compared to the rest of ACT, giving investors a capital gain of -0.37% to date .
When looking at the potential capital gains offered to property investors over the last 3 years, Palmerston comes in at number 26th in ACT.
Palmerston2913 is located in ACT which offers an average discount of -3.98% to property investors. Palmerston itself is showing figures that indicate -1.42% is the average achievable by property buyers investing in the suburb.
On average over the past year, suburb has had 3.50 sales per month, which equates to 42 per year.
Situated 9.41km from the CBD, Palmerston is one of Unincorporated ACT localities in the postcode 2913.
With a capital gain of 3.72% for the last 12 months, Palmerston, 2913 has performed for property investments than its average annual 2.93% property growth over the last 5 years.
Comparing Palmerston,2913 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.25% offered to property buyers. Sellers in Palmerston itself are offering an average vendor discount of -1.63% to real estate investors.
Residents and property investors in Palmerston have been waiting around 52 days to sell a property.
Renters in Suburb are facing rents around $4980 per annum or $415 every week.
The townhouse market is looking quite strong, with a 2.5% increase in median price. This demand could be fuelled by the low prices, as affordability is a key factor for both investors and owner occupiers alike in the current market.Full summary
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Median townhouse price: $369,000
Rental yield: 5.77%
The suburb of Palmerston was only the second Gungahlin suburb to undergo development. This area is mainly residential, with single homes and duplexes.
The townhouse market is looking quite strong, with a 2.5% increase in median price. This demand could be fuelled by the low prices, as affordability is a key factor for both investors and owner occupiers alike in the current market. However, it is the rental market that is shining – rents rose by a considerable 5%, and returns to investors are quite high at 5.8%.
Palmerston is well-stocked with amenities, including medical centres, shopping hubs and community centres. An oval has been established adjacent to Palmerston Primary School for sports and recreation, and there are several bicycle trails crossing the suburb. Palmerston’s streets are also festooned with fruit trees.
The suburb is linked to the Gungahlin Town Centre via bus. These routes also go to Belconnen. Canberra is a 20-minute drive along Barton Highway and Northbourne Avenue.Close