With a capital gain of 6.27% for the last 12 months, Palmerston, 2913 has performed for property investments than its average annual 4.96% property growth over the last 5 years.
When looking at the potential capital gains offered to property investors over the last 3 years, Palmerston comes in at number 32th in ACT.
Palmerston, 2913 is offering ACT ‘s 49th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this ACT.
Often selling an investment property can take time, and in Palmerston the average time real estate has been on the market is 41.66 days.
With the median price for a house in Palmerston being $712000 and the advertised rent reaching $550 the gross rental yield for property investors calculates out to be 4.02%
If you compare the increase in value of investment property in Palmerston, 2913 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this ACT suburb was 2.95%.
Palmerston,2913 has offered an average of 2.95% return per annum in house price rises to property investors over the last three years.
LACK OF BUYER INTEREST may well be the reason that Palmerston is offering property investors an average of -3.76. This rate of discount on properties puts Suburb at number 42th in terms of most discounted suburbs in ACT
Often selling an investment property can take time, and in Palmerston the average time real estate has been on the market is 48.21 days.
The ACT suburb of Palmerston, 2913 is in the Unincorporated ACT local government area.
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