Giralang is in the TOP 20% in ACT when comparing median price capital growth over the last year. Giralang gave property investors a very good capital gain figure when compared to the rest of the state, with 11.34%.
Taking the average capital gain, or increase in median house value, Giralang,2617 has racked up an average of 11.34% over the period. This ranks it number 1492th in the whole country for real estate investors looking at median house price increases.
In the last year 43 properties changed hands in Giralang, which puts it as the 52th most active market in ACT when comparing the number of sales per suburb.
Advertised rents are around the $492.5 mark per week – giving a return of 3.74% based on the median price in Suburb
Information supplied by:
Located within Canberra’s Belconnen district, Giralang lies around 8km north of the CBD and is well and truly a suburb of houses, with 93.7% of all occupied dwellings coming into the house category at the last ABS census.
Affordability will be a big drawcard for investors considering purchasing a house in Giralang, as its median house price falls below the citywide figure.
The rental market here is strong, with yields sitting at around the 5% mark, and vacancy rates rarely lifting above 1% over the past five years according to SQM Research figures.
Those Canberra investors with an eye on that next renovation project will be interested to read RP Data's report on the suburb, as the data provider certainly thinks that Giralang has a host of properties with decent add-value potential:
“Houses within Giralang show a clear dominance towards long established dwellings," says the report. "In many cases these properties may offer significant renovation potential, whether it be internal, external or both. The land parcels within Giralang tend to be quite large, with the average lands size being between 800 and 900m2, suggesting there maybe scope for extensions of current dwellings, or subdivision for new dwellings.”