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%.
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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%.