Investment property in Kingston has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 35.44%
In the last year 15 properties changed hands in Kingston, which puts it as the 88th most active market in ACT when comparing the number of sales per suburb.
Property investors should expect to get $610 weekly from the median priced house in this suburb.
Kingston, 2604 ranked 23th in ACT when comparing growth in median property values or capital gain over the last 12 months. Kingston is one of 126 in our list for ACT
A 3.25% growth in median value for property investors in Kingston,2604 puts this suburb at number 7th in terms of best performing suburbs in ACT
Our latest figures would indicate that property sellers in Kingston are currently offering property investors an average price cut of -3.93% below the asking price at the moment.
Kingston, 2604’s gross rental yield is 5.26%
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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.