Property investors who have had real estate in Banks, 2906 should be pleased with this ACT suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 17.21%
While Banks,2906 ranked number 63th in ACT for increase in median house value (annualised) increase, it is ranked 14th over the last 5 years.
Sellers are offering property buyers an average discount of -2.52% to buyers in Banks at the moment, which is less than average for the rest of ACT.
In the last year 44 properties changed hands in Banks, which puts it as the 38th most active market in ACT when comparing the number of sales per suburb.
Situated 21.84km from the CBD, Banks is one of Unincorporated ACT localities in the postcode 2906.
Banks is in the TOP 30% in ACT when comparing median price capital growth over the last year. Banks gave property investors a good capital gain figure when compared to the rest of the state, with 9.87%.
Banks,2906 was ranked 242 in Australia by increase in median property value over the quarter.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Banks, 2906. Typically our figures indicate that -2.59% is being offered, which puts this ACT suburb at 1360th most discounted overall in Australia.
Advertised rents are around the $425 mark per week – giving a return of 5.09% based on the median price in Suburb