Property value increases in Palmerston have tracked just lower than the ACT average of 5.75% over the last 12 months.
While Palmerston,2913 ranked number 26th in ACT for increase in median house value (annualised) increase, it is ranked 24th over the last 5 years.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Palmerston, 2913. Typically our figures indicate that -4.30% is being offered, which puts this ACT suburb at 3014th most discounted overall in Australia.
At number 689 in a list of fastest selling suburbs, Palmerston is in the TOP 20% of suburbs in Australia with an average of days on market 54.6 for properties listed there.
Renters in Suburb are facing rents around $6240 per annum or $520 every week.
Property investors who have had real estate in Palmerston, 2913 should be relatively unhappy with this ACT suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 0.66%
A -2.82% growth in median value for property investors in Palmerston,2913 puts this suburb at number 60th in terms of best performing suburbs in ACT
State is the 8th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.09% offered to property buyers. Sellers in Palmerston itself are offering an average vendor discount of -1.97% to real estate investors.
In the last year 51 properties changed hands in Palmerston, which puts it as the 21th most active market in ACT when comparing the number of sales per suburb.
Situated 9.19km 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