Giving property investors a an unimpressive capital gain of -2.44% for the last year, Garran, 2605 is the 2881th highest performer in Australia in this respect.
When looking at the potential capital gains offered to property investors over the last 3 years, Garran comes in at number 30th in ACT.
Advertised rents are around the $655 mark per week – giving a return of 3.41% based on the median price in Suburb
ACT has seen average median house prices change by 2.54% which means that Garran, 2605 has done well for property investors by showing a capital gain of 3.35% over the last year
Comparing Garran,2605 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Residents and property investors in Garran have been waiting around 61.5556 days to sell a property.
Information supplied by:
Units sell reasonably quickly
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%.