Suburb Profile Report for Garran ACT (2605)

Garran House: Median price $990,500, Annual capital growth 3.94%, Number of sales 39, Weekly median advertised rent $663

Garran Unit: Median price $582,000, Annual capital growth 2.25%, Number of sales 33, Weekly median advertised rent $550

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

If you compare the increase in value of investment property in Garran, 2605 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this ACT suburb was 3.34%.

While Garran,2605 ranked number 71th in ACT for increase in median house value (annualised) increase, it is ranked 34th over the last 5 years.

Vendor discounting in Garran is giving property investors an average Vendor Discount of around -0.33%. This puts suburb at number 65th in ACT when ranking the most discounted suburbs.

Residents and property investors in Garran have been waiting around 124.61 days to sell a property.

At number 631th in the list of Australian suburbs ordered by increase in median house value over the last year, Garran, 2605 is in the top 40% with a property value increase of 4.39% recorded in median house prices.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Garran has increased when compared to the 5 year average annual rate.

Property investors looking for a bargain in Garran should be aiming for at least -1.09% off the asking price, which is the average vendor discount being achieved at the moment.

In the last year 33 properties changed hands in Garran, which puts it as the 36th most active market in ACT when comparing the number of sales per suburb.

Property investors should expect to get $550 weekly from the median priced house in this suburb.

Metrics i HOUSE UNIT
$990,500 $582,000
-1.95% 2.56%
3.34% 4.39%
3.94% 2.25%
$663 $550
39 33
3.48% 4.91%
124.61 59.65

Source: CoreLogic

DSR Score for property investment : Above average (H), Very 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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