Over the last year, property investments in Wright, 2611 have given investors a capital gain of 15.89%. This compares very favourably with the 3.88% for ACT as a whole.
The five-year average increase in median property values for Wright,2611 has given property investors a potential capital gain of 56.25% across each of those five years.
Our latest figures would indicate that property sellers in Wright are currently offering property investors an average price cut of -9.77% below the asking price at the moment.
The ACT suburb of Wright, 2611 is in the Unincorporated ACT local government area.
Wright is in the TOP 30% in ACT when comparing median price capital growth over the last year. Wright gave property investors a good capital gain figure when compared to the rest of the state, with 5.80%.
A 11.72% growth in median value for property investors in Wright,2611 puts this suburb at number 20th in terms of best performing suburbs in ACT
Vendor discounting in Wright is giving property investors an average Vendor Discount of around -4.16%. This puts suburb at number 7th in ACT when ranking the most discounted suburbs.
In the last year 59 properties changed hands in Wright, which puts it as the 13th most active market in ACT when comparing the number of sales per suburb.
Renters in Suburb are facing rents around $23920 per annum or $460 every week.
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Things are tight
Median unit price: $385,000
Vacancy rate: 8.8%
Three-year growth: 3.2%
A developing suburb, Wright’s growth prospects have not looked very good, but it is a hit among tenants. The average vacancy rate plummeted from 13.0% all the way down to 8.8% in the 12 months to July 2018, leaving only 21 vacant rental properties in the suburb. The average rent rate comes in at $435 per week, and it certainly is a good investment in terms of cash flow – landlords earn average returns of almost 6%.
The suburb is situated in the Molonglo Valley, and was named for poet and environmentalist Judith Wright. The first house in this suburb was only constructed in 2012, but it appeals to renters given its proximity to the Cooleman Court shopping centre and Canberra Hospital. Students also appreciate the closeness of schools like Duffy Primary School, Canberra College and the Australian National University.