Narrabundah, 2604 ranked 47th in ACT when comparing growth in median property values or capital gain over the last 12 months. Narrabundah is one of 126 in our list for ACT
Across a shorter period, Narrabundah, 2604 has seen a median price increase of 0.00% over the last quarter.
On average over the past year, suburb has had 7.17 sales per month, which equates to 86 per year.
Advertised rents are around the $627.5 mark per week – giving a return of 3.51% based on the median price in Suburb
If you compare the increase in value of investment property in Narrabundah, 2604 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this ACT suburb was 4.05%.
Taking the average capital gain, or increase in median house value, Narrabundah,2604 has racked up an average of 4.05% over the period. This ranks it number 882th in the whole country for real estate investors looking at median house price increases.
The most recent median price for Narrabundah is $450000, with sellers offering an average of -4.13% off the asking price.
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.