Kingston has had a pretty average year for property investment returns compared to the rest of ACT, giving investors a capital gain of 0.00% to date .
While Kingston,2604 ranked number 36th in ACT for increase in median house value (annualised) increase, it is ranked 46th over the last 5 years.
Property investors looking for a bargain in Kingston should be aiming for at least -2.10% off the asking price, which is the average vendor discount being achieved at the moment.
With the median price for a house in Kingston being $515000 and the advertised rent reaching $520 the gross rental yield for property investors calculates out to be 5.25%
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%Full summary
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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.