Narrabundah is an average performer in ACT when comparing median price capital growth over the last year. Narrabundah gave property investors a average capital gain figure when compared to the rest of the state, with 2.22%.
Taking the average capital gain, or increase in median house value, Narrabundah,2604 has racked up an average of 2.22% over the period. This ranks it number 1081th in the whole country for real estate investors looking at median house price increases.
Renters in Suburb are facing rents around $32240 per annum or $620 every week.
Over the last year, property investments in Narrabundah, 2604 have given investors a capital gain of -0.97%. This compares averagely with the 0.38% for ACT as a whole.
Narrabundah,2604 has offered an average of -0.97% return per annum in house price rises to property investors over the last three years.
Narrabundah2604 is located in ACT which offers an average discount of -4.24% to property investors. Narrabundah itself is showing figures that indicate -4.26% is the average achievable by property buyers investing in the suburb.
With the median price for a house in Narrabundah being $433500 and the advertised rent reaching $470 the gross rental yield for property investors calculates out to be 5.64%
Information supplied by:
Median House Price: $910,000
Current Yield (houses): 3.4%
Average annual growth (houses): 4.3%
Median Unit Price: $429,000
Current Yield (units): 5.7%
Average annual growth (units): 1.0%
The suburb of Narrabundah appeals to those who want to buy in Red Hill but are put off by the high prices, as it is adjacent to this prime suburb. The house market boasts an average annual growth rate of 4.3%.
“Narrabundah is close to the city and to the redeveloped Kingston foreshore, which is a great attraction for locals and tourists. There are plenty of renovation opportunities with many homes requiring upgrading,” says Peter Koulizos, director of the Master of Property program at the University of Adelaide.