Narrabundah, 2604 ranked 36th in ACT when comparing growth in median property values or capital gain over the last 12 months. Narrabundah is one of 126 in our list for ACT
When looking at the potential capital gains offered to property investors over the last 3 years, Narrabundah comes in at number 24th in ACT.
Property investors who have had real estate in Narrabundah, 2604 should be relatively pleased with this ACT suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 6.86%
When looking at the potential capital gains offered to property investors over the last 3 years, Narrabundah comes in at number 31th in ACT.
Advertised rents are around the $480 mark per week – giving a return of 5.39% based on the median price in Suburb
Information supplied by:
Median House Price: $910,000
Current Yield (houses): 3.4%
Average annual growth (houses): 4.3%
Median Unit Price: $429,000
Current Yield (units): 5.7%
Average annual growth (units): 1.0%
The suburb of Narrabundah appeals to those who want to buy in Red Hill but are put off by the high prices, as it is adjacent to this prime suburb. The house market boasts an average annual growth rate of 4.3%.
“Narrabundah is close to the city and to the redeveloped Kingston foreshore, which is a great attraction for locals and tourists. There are plenty of renovation opportunities with many homes requiring upgrading,” says Peter Koulizos, director of the Master of Property program at the University of Adelaide.