With a capital gain of 5.16% for the last 12 months, Garran, 2605 has performed for property investments than its average annual 3.13% property growth over the last 5 years.
If we look at median property appreciation over just the last three months, Garran has given property investors a paper return of 3.38%. This puts Suburb as 46 on a list of fastest fasting appreciating suburbs in ACT
Garran is 63th on a list of best yielding suburbs for rents in ACT with a 3.40% return
Investment property in Garran has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 2.06%
While Garran,2605 ranked number 43th in ACT for increase in median house value (annualised) increase, it is ranked 42th over the last 5 years.
Using the current median advertised rental of $540 and the average annual increase in value of a median property of 2.63%, investors should hope to achieve an overall return of 4.54%
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%.