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 11.22%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Narrabundah has increased when compared to the 5 year average annual rate.
LACK OF BUYER INTEREST may well be the reason that Narrabundah is offering property investors an average of -3.62. This rate of discount on properties puts Suburb at number 10th in terms of most discounted suburbs in ACT
A $595 per week rent on the median house gives suburb investors a gross yield of circa 3.09%, without taking into account capital value appreciation, which has been averaging out at 5.71%.
If you compare the increase in value of investment property in Narrabundah, 2604 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this ACT suburb was -6.80%.
Narrabundah,2604 was ranked 1595 in Australia by increase in median property value over the quarter.
The most recent median price for Narrabundah is $480000, with sellers offering an average of -2.52% off the asking price.
Often selling an investment property can take time, and in Narrabundah the average time real estate has been on the market is 84.02 days.
Situated 6.70km from the CBD, Narrabundah is one of Unincorporated ACT localities in the postcode 2604.