Evatt has had a very poor year for property investment returns compared to the rest of ACT, giving investors a capital gain of -0.90% to date .
While Evatt,2617 ranked number 53th in ACT for increase in median house value (annualised) increase, it is ranked 60th over the last 5 years.
Property buyers and investors in Evatt 2617 should be seeing an average reduction in asking price of around -8.19% . This means that Evatt is holding prices well when compared to other suburbs in ACT.
At number 461 in a list of fastest selling suburbs, Evatt is just in the top half of suburbs in Australia with an average of days on market 45.42 for properties listed there.
Renters in Suburb are facing rents around $5760 per annum or $480 every week.
If you compare the increase in value of investment property in Evatt, 2617 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this ACT suburb was 13.41%.
The five-year average increase in median property values for Evatt,2617 has given property investors a potential capital gain of 19.85% across each of those five years.
Using the current median advertised rental of $405 and the average annual increase in value of a median property of 4.26%, investors should hope to achieve an overall return of 4.53%
Situated roughly 20-minutes’ drive from the capital of Canberra is the suburb of Evatt, whose houses have become quite popular over the decade.Full summary
Information supplied by:
Situated roughly 20-minutes’ drive from the capital of Canberra is the suburb of Evatt, whose houses have become quite popular over the decade.
Prices peaked at nearly $570,000 over the past 12 months, following 12.6% growth. While the unit market has been declining slightly over a five-year period, rental yields are high at 5%.
The suburb’s central location in the Belconnen supports its growth, since the region has been experiencing a rise. Evatt provides many conveniences and amenities, such as ovals and primary schools, and neighbouring suburbs like Melba and Spence are home to secondary schools, sports facilities and shopping centres. Bus services to the city are also offered.