At number 165th in the list of Australian suburbs ordered by increase in median house value over the last year, Kingston, 2604 is in the top 10% with a property value increase of 24.39% recorded in median house prices.
The five-year average increase in median property values for Kingston,2604 has given property investors a potential capital gain of -44.10% across each of those five years.
In the last year 18 properties changed hands in Kingston, which puts it as the 91th most active market in ACT when comparing the number of sales per suburb.
Investment property in Kingston has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -1.00%
The five-year average increase in median property values for Kingston,2604 has given property investors a potential capital gain of -4.80% across each of those five years.
State is the 8th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -3.62% offered to property buyers. Sellers in Kingston itself are offering an average vendor discount of -3.86% to real estate investors.
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Vacancies tighten considerably
Median unit price: $518,950
Vacancy rate: 3.0%
Three-year growth: -1.2%
Regarded as one of the most populated suburbs in Canberra, the suburb of Kingston had a tough run in March 2017 with a vacancy rate of almost 6%, but a year later, it recovered with the rate dropping to 3%.
In terms of growth, the suburb has been on a bit of a losing streak, with negative growth being recorded since 2015. The median apartment value has fallen to below $520,000 following a drop of 1.9% in the period of March 2017-2018.
Nonetheless, Kingston offers landlords an opportunity to profit off an average rental yield of 5% at an average weekly rent rate of $500. Units are also being sold at an average discount rate of only 4.7%, suggesting that there is reasonable demand.