Suburb Profile Report for Garran ACT (2605)

Garran House: Median price $1,000,000, Annual capital growth 3.76%, Number of sales 32, Weekly median advertised rent $635

Garran Unit: Median price $605,500, Annual capital growth 3.20%, Number of sales 25, Weekly median advertised rent $555

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
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ACT has seen average median house prices change by 4.21% which means that Garran, 2605 has done well for property investors by showing a capital gain of -2.44% over the last year

Taking the average capital gain, or increase in median house value, Garran,2605 has racked up an average of -2.44% over the period. This ranks it number 1215th in the whole country for real estate investors looking at median house price increases.

Property investors should expect to get $635 weekly from the median priced house in this suburb.

Property value increases in Garran have tracked close to the ACT average of -0.42% over the last 12 months.

When looking at the potential capital gains offered to property investors over the last 3 years, Garran comes in at number 22th in ACT.

A $555 per week rent on the median house gives suburb investors a gross yield of circa 4.77%, without taking into account capital value appreciation, which has been averaging out at 3.20%.

Information supplied by:


April 2019

M
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Units sell reasonably quickly

Postcode:

Median unit price: $585,000

Three-year growth: 2.1%

Rental yield: 4.9%

Named for Sir Robert Garran, who championed higher education in Canberra, the suburb of Garran honours the origin of its name by christening its streets after Australian writers.

This suburb is the home of Canberra Hospital, which could attract those working in the medical sectors.  There are also schools in the area, including Garran Primary School and a special education institution. There is also a shopping strip catering to residents, and a bigger shopping centre just minutes away. Garran has a number of 1970s-style townhouses, and it is bordered by parkland.

The suburb enjoys good long-term growth prospects, even if the price hike rates haven’t exactly boomed in the five years to February 2019. Units generally sell in less than two months; moreover, the market generates an average yield of 4.9%.

Metrics i HOUSE UNIT
$1,000,000 $605,500
0.25% 1.25%
-2.44% 1.17%
3.76% 3.20%
$635 $555
32 25
3.30% 4.77%
73.0434782608696 65.9473684210526

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Good (U)
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Demographics
Total population 3198
Median household income ($/weekly) 2368
Median age of persons 41
Median housing loan repayment ($/monthly) 2383
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 397 12.4
    25-34 years 393 12.3
    35-44 years 441 13.8
    45-54 years 450 14.1
    55-64 years 357 11.2
    Others 1160 36.3
    Age Group
    Census Count Percent(%)
    Registered Married 1238 53.2
    Not Married 917 39.4
    Defacto Relationship 172 7.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 2112 67.8
    Croatia 70 2.2
    Indonesia 68 2.2
    United Kingdom 197 6.3
    Other 228 7.3
    Others 440 14.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 72 2.4
    Christianity 1839 61.9
    Hinduism 72 2.4
    Islam 90 3.0
    No Religion 876 29.5
    Others 24 0.8
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 130 12.4
    $2,000-$2,499 88 8.4
    $2,500-$2,999 181 17.3
    $3,000-$3,499 111 10.6
    $4,000 or more 151 14.4
    Others 386 36.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1113 44.0
    Not in the labour force 845 33.4
    Employed, worked part-time 401 15.9
    Employed, away from work 125 4.9
    Unemployed, looking for work 45 1.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 298 18.2
    Professionals 687 41.9
    Technicians & trades workers 106 6.5
    Community & personal service workers 130 7.9
    Clerical & administrative workers 262 16.0
    Others 157 9.6
    Occupation
    Census Count Percent(%)
    Pre-school 32 3.7
    Infants/Primary 266 31.1
    Secondary 233 27.3
    Technical or Further Educational Institution 56 6.6
    University or other Tertiary Institutions 236 27.6
    Others 31 3.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2142 73.8
    Flat, unit or apartment 520 17.9
    Semi-detached, row or terrace house, townhouse 240 8.3
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 437 37.6
    Rented 393 33.8
    Being purchased 321 27.6
    Other tenure type 11 0.9
    Tenure Type
Census 2011, ABS
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