Property value increases in Kingston have tracked higher than the ACT average of 3.88% over the last 12 months.
The ACT suburb of Kingston, 2604 is in the Unincorporated ACT local government area.
ACT has seen average median house prices change by 0.87% which means that Kingston, 2604 has done well for property investors by showing a capital gain of -3.08% over the last year
Kingston,2604 has offered an average of -3.08% return per annum in house price rises to property investors over the last three years.
Property buyers and investors in Kingston 2604 should be seeing an average reduction in asking price of around -3.34% . This means that Kingston is holding prices well when compared to other suburbs in ACT.
Residents and property investors in Kingston have been waiting around 86.4944 days to sell a property.
Advertised rents are around the $530 mark per week – giving a return of 5.15% based on the median price in Suburb
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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.