Investment property in Narrabundah has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -10.00%
Narrabundah,2604 has offered an average of -10.00% return per annum in house price rises to property investors over the last three years.
The most recent median price for Narrabundah is $1223000, with sellers offering an average of -5.76% off the asking price.
Situated 6.39km from the CBD, Narrabundah is one of Unincorporated ACT localities in the postcode 2604.
Narrabundah, 2604 ranked 24th 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
A 0.00% growth in median value for property investors in Narrabundah,2604 puts this suburb at number 57th in terms of best performing suburbs in ACT
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -1.49% offered to property buyers. Sellers in Narrabundah itself are offering an average vendor discount of 0.00% to real estate investors.
At number 1 in a list of fastest selling suburbs, Narrabundah is in the TOP 20% of suburbs in Australia with an average of days on market 0 for properties listed there.
A $0 per week rent on the median house gives suburb investors a gross yield of circa 0.00%, without taking into account capital value appreciation, which has been averaging out at 0.00%.
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Narrabundah, ACT
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.