Giving property investors a an unimpressive capital gain of 1.48% for the last year, Palmerston, 2913 is the 2835th highest performer in Australia in this respect.
If we look at median property appreciation over just the last three months, Palmerston has given property investors a paper return of 6.61%. This puts Suburb as 11 on a list of fastest fasting appreciating suburbs in ACT
Sellers are offering property buyers an average discount of -1.64% to buyers in Palmerston at the moment, which is less than average for the rest of ACT.
Property investors should expect to get $525 weekly from the median priced house in this suburb.
Palmerston has had a pretty average year for property investment returns compared to the rest of ACT, giving investors a capital gain of 4.59% to date .
Over the longer term, Palmerston has seen property prices show investors a 0.26% return over the last 3 years. This is an improvement over the last 12 months
Vendor discounting in Palmerston is giving property investors an average Vendor Discount of around -1.63%. This puts suburb at number 43th in ACT when ranking the most discounted suburbs.
Situated 9.21km from the CBD, Palmerston is one of Unincorporated ACT localities in the postcode 2913.
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