At number 4089th in the list of Australian suburbs ordered by increase in median house value over the last year, Braddon, 2612 is in the BOTTOM 10% with a property value increase of -15.75% recorded in median house prices.
A $545 per week rent on the median house gives suburb investors a gross yield of circa 3.86%, without taking into account capital value appreciation, which has been averaging out at -25.16%.
Property value increases in Braddon have tracked lower than the ACT average of 2.48% over the last 12 months.
While Braddon,2612 ranked number 30th in ACT for increase in median house value (annualised) increase, it is ranked 42th over the last 5 years.
Sellers are offering property buyers an average discount of -4.45% to buyers in Braddon at the moment, which is less than average for the rest of ACT.
Situated 1.06km from the CBD, Braddon is one of Unincorporated ACT localities in the postcode 2612.
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The Braddon unit market is worth checking out thanks to its level of affordability. Its median unit price may not be the cheapest in the country, but it compares extremely well with neighbouring Turner, and particularly Ainslie.
Sitting right on top of Limestone and Northbourne Avenues, it’s certainly an accessible inner-northern suburb that’s characterised by long streets heading north to south towards London Circuit and Vernon Circle. Most of the suburb’s shops and amenities can be found south of Haig Park on Mort and Lonsdale Streets, as well as a few office blocks.
Looking at the listings for Braddon, offerings range from investment-only studios for around the $130,000-mark up to fully renovated three-bedroom apartments for closer to $600,000. With the sprawling Australian National University being just a stone’s throw away, your choice of property will most likely need to appeal to either the student or young professional market.
Renters made up half of the suburb’s population at last count in 2006, and the area’s vacancy rate has consistently been below 2% over the past five years, according to SQM Research. Looking at the ABS statistics for the Braddon SLA, if its population growth rate of 9.1% over four years is anything to go by, Braddon’s rental market should remain strong for some time.