At number 692th in the list of Australian suburbs ordered by increase in median house value over the last year, Giralang, 2617 is in the top 20% with a property value increase of 12.37% recorded in median house prices.
Giralang,2617 was ranked 1523 in Australia by increase in median property value over the quarter.
Property investors looking for a bargain in Giralang should be aiming for at least -3.81% off the asking price, which is the average vendor discount being achieved at the moment.
At number 1104 in a list of fastest selling suburbs, Giralang is in the TOP 30% of suburbs in Australia with an average of days on market 59 for properties listed there.
The ACT suburb of Giralang, 2617 is in the Unincorporated ACT local government area.
If you compare the increase in value of investment property in Giralang, 2617 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this ACT suburb was -14.17%.
In the last year 13 properties changed hands in Giralang, which puts it as the 69th most active market in ACT when comparing the number of sales per suburb.
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.Full summary
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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.”