Property investors who have had real estate in Garran, 2605 should be ok with this ACT suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -1.46%
Taking the average capital gain, or increase in median house value, Garran,2605 has racked up an average of -1.46% over the period. This ranks it number 1183th in the whole country for real estate investors looking at median house price increases.
Renters in Suburb are facing rents around $33020 per annum or $635 every week.
Over the last year, property investments in Garran, 2605 have given investors a capital gain of 1.36%. This compares averagely with the -0.28% for ACT as a whole.
A 11.75% growth in median value for property investors in Garran,2605 puts this suburb at number 38th in terms of best performing suburbs in ACT
On average over the past year, suburb has had 1.58 sales per month, which equates to 19 per year.
A $542.5 per week rent on the median house gives suburb investors a gross yield of circa 4.72%, without taking into account capital value appreciation, which has been averaging out at 2.99%.
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Information supplied by:
April 2019
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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%.