ACT has seen average median house prices change by 5.48% which means that Deakin, 2600 has done well for property investors by showing a capital gain of 2.87% over the last year
While Deakin,2600 ranked number 88th in ACT for increase in median house value (annualised) increase, it is ranked 11th over the last 5 years.
Renters in Suburb are facing rents around $36920 per annum or $710 every week.
With the median price for a house in Deakin being $823500 and the advertised rent reaching $595 the gross rental yield for property investors calculates out to be 3.76%
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Median house price: $1,245,000
Three-year growth: 29.5%
Rental yield: 3.1%
Known as the location of the Australian Prime Minister’s home and of the Royal Australian Mint, Deakin is only a short distance from Parliament House.
This premium suburb has some of the most expensive houses in the ACT. However, demand seems undeterred, as price growth continues on. Rent rates are quite steep as well at over $700 a week – even then, investors don’t reap a significant profit at an average rental return of 3.1%.
The suburb was only fully built after World War 2, and contains many heritage sites. These include the Prime Minister’s Lodge, the Canberra Girls’ Grammar School Boarding House and the Deakin Anticline. Despite being primarily residential, Deakin also has a shopping centre situated on Hopetoun Circuit which has an IGA supermarket and restaurants. Alfred Deakin High School has been established here as well.