Wright, 2611 ranked 79th in ACT when comparing growth in median property values or capital gain over the last 12 months. Wright is one of 126 in our list for ACT
Over the longer term, Wright has seen property prices show investors a -5.33% return over the last 3 years. This is an improvement over the last 12 months
At number 17th of ACT’s most discounted properties, Wright is in the bottom 30% of the state/territory when listing in order of most discounted to least.
Residents and property investors in Wright have been waiting around 109.11 days to sell a property.
Renters in Suburb are facing rents around $38480 per annum or $740 every week.
Giving property investors a an average capital gain of 0.56% for the last year, Wright, 2611 is the 886th highest performer in Australia in this respect.
While Wright,2611 ranked number 15th in ACT for increase in median house value (annualised) increase, it is ranked 40th over the last 5 years.
Property investors looking for a bargain in Wright should be aiming for at least -3.22% off the asking price, which is the average vendor discount being achieved at the moment.
Wright, 2611’s gross rental yield is 5.79%
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