With a capital gain of -10.22% for the last 12 months, Palmerston, 2913 has performed for property investments than its average annual 3.77% property growth over the last 5 years.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Palmerston has increased when compared to the 5 year average annual rate.
Vendor discounting in Palmerston is giving property investors an average Vendor Discount of around -1.42%. This puts suburb at number 58th in ACT when ranking the most discounted suburbs.
Often selling an investment property can take time, and in Palmerston the average time real estate has been on the market is 45.85 days.
ACT has seen average median house prices change by 2.38% which means that Palmerston, 2913 has done well for property investors by showing a capital gain of 4.39% over the last year
Taking the average capital gain, or increase in median house value, Palmerston,2913 has racked up an average of 4.39% over the period. This ranks it number 1348th in the whole country for real estate investors looking at median house price increases.
Sellers are offering property buyers an average discount of -1.28% to buyers in Palmerston at the moment, which is less than average for the rest of ACT.
Advertised rents are around the $400 mark per week – giving a return of 5.30% based on the median price in Suburb
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