ACT has seen average median house prices change by 5.48% which means that Narrabundah, 2604 has done well for property investors by showing a capital gain of 7.36% over the last year
When looking at the potential capital gains offered to property investors over the last 3 years, Narrabundah comes in at number 31th in ACT.
The most recent median price for Narrabundah is $985000, with sellers offering an average of -3.93% off the asking price.
Narrabundah, 2604’s gross rental yield is 3.30%
Giving property investors a a stable capital gain of 8.42% for the last year, Narrabundah, 2604 is the 459th highest performer in Australia in this respect.
Across a shorter period, Narrabundah, 2604 has seen a median price increase of -3.89% over the last quarter.
Sellers are offering property buyers an average discount of -1.41% to buyers in Narrabundah at the moment, which is less than average for the rest of ACT.
Often selling an investment property can take time, and in Narrabundah the average time real estate has been on the market is 84.3182 days.
Advertised rents are around the $495 mark per week – giving a return of 5.48% based on the median price in Suburb
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.