Investment property in Wright 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 0.26%
Taking the average capital gain, or increase in median house value, Wright,2611 has racked up an average of 0.26% over the period. This ranks it number 2565th in the whole country for real estate investors looking at median house price increases.
Wright2611 is located in ACT which offers an average discount of -3.62% to property investors. Wright itself is showing figures that indicate -5.04% is the average achievable by property buyers investing in the suburb.
Renters in Suburb are facing rents around $37440 per annum or $720 every week.
With a capital gain of -1.13% for the last 12 months, Wright, 2611 has performed for property investments than its average annual -0.80% property growth over the last 5 years.
Over the longer term, Wright has seen property prices show investors a 6.41% return over the last 3 years. This is worse than over the last 12 months
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Wright, 2611. Typically our figures indicate that -3.65% is being offered, which puts this ACT suburb at 1100th most discounted overall in Australia.
In the last year 54 properties changed hands in Wright, which puts it as the 15th most active market in ACT when comparing the number of sales per suburb.
Wright is 11th on a list of best yielding suburbs for rents in ACT with a 5.88% return
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 suburbFull summary
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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.Close