Suburb Profile Report for Garran ACT (2605)

Garran House: Median price $1,000,000, Annual capital growth 3.79%, Number of sales 33, Weekly median advertised rent $655

Garran Unit: Median price $616,500, Annual capital growth 3.12%, Number of sales 25, Weekly median advertised rent $545

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

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

  • Expert Report
  • House Report
  • Unit Report

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:


April 2019

M
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W
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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 $616,500
0.00% 3.35%
-2.44% 3.35%
3.79% 3.12%
$655 $545
33 25
3.41% 4.60%
73.6842105263158 61.5555555555556

Source: Monthly data update for Jul 2020 as supplied by CoreLogic. Data is reported to the period ending Apr 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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