Suburb Profile Report for Banks ACT (2906)

Banks House: Median price $487,000, Annual capital growth 1.21%, Number of sales 68, Weekly median advertised rent $475

Banks Unit: Median price $427,500, Annual capital growth 2.63%, Number of sales 18, Weekly median advertised rent $465

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Sep 2019 as supplied by CoreLogic. Data is reported to the period ending Jun 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

Property investors who have had real estate in Banks, 2906 should be ok with this ACT suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -1.62%

Taking the average capital gain, or increase in median house value, Banks,2906 has racked up an average of -1.62% over the period. This ranks it number 1314th in the whole country for real estate investors looking at median house price increases.

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 -2.84% is being offered, which puts this ACT suburb at 3011th most discounted overall in Australia.

At number 429 in a list of fastest selling suburbs, Banks is in the TOP 20% of suburbs in Australia with an average of days on market 50.2807 for properties listed there.

With the median price for a house in Banks being $487000 and the advertised rent reaching $475 the gross rental yield for property investors calculates out to be 5.07%

Banks, 2906 ranked 21th in ACT when comparing growth in median property values or capital gain over the last 12 months. Banks is one of 126 in our list for ACT

Residents and property investors in Banks have been waiting around 105.8 days to sell a property.

Banks is 21th on a list of best yielding suburbs for rents in ACT with a 5.66% return

Metrics i HOUSE UNIT
$487,000 $427,500
0.21% 2.52%
-1.62% 2.76%
1.21% 2.63%
$475 $465
68 18
5.07% 5.66%
50.280701754386 105.8

Source: Monthly data update for Sep 2019 as supplied by CoreLogic. Data is reported to the period ending Jun 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Very good (H), Good (U)
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Demographics
Total population 5060
Median household income ($/weekly) 1964
Median age of persons 30
Median housing loan repayment ($/monthly) 2167
Average household size 2.9
  • Census Count Percent(%)
    0-4 years 487 9.6
    5-14 years 802 15.8
    25-34 years 840 16.6
    35-44 years 852 16.8
    45-54 years 734 14.5
    Others 1346 26.6
    Age Group
    Census Count Percent(%)
    Registered Married 1757 50.3
    Not Married 1293 37.0
    Defacto Relationship 443 12.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 3901 81.8
    Papua New Guinea 46 1.0
    Philippines 53 1.1
    United Kingdom 231 4.8
    Other 205 4.3
    Others 335 7.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 162 3.5
    Christianity 3099 67.5
    Hinduism 29 0.6
    Islam 98 2.1
    No Religion 1172 25.5
    Others 30 0.7
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 122 8.1
    $1,500-$1,999 267 17.7
    $2,000-$2,499 224 14.8
    $2,500-$2,999 201 13.3
    $3,000-$3,499 146 9.7
    Others 549 36.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2004 56.2
    Not in the labour force 663 18.6
    Employed, worked part-time 633 17.8
    Employed, away from work 168 4.7
    Unemployed, looking for work 97 2.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 370 13.2
    Professionals 531 18.9
    Technicians & trades workers 402 14.3
    Community & personal service workers 284 10.1
    Clerical & administrative workers 629 22.4
    Others 595 21.2
    Occupation
    Census Count Percent(%)
    Pre-school 103 7.7
    Infants/Primary 491 36.6
    Secondary 428 31.9
    Technical or Further Educational Institution 139 10.4
    University or other Tertiary Institutions 138 10.3
    Others 41 3.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4244 89.3
    Semi-detached, row or terrace house, townhouse 510 10.7
    Flat, unit or apartment 0 0.0
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1053 64.3
    Rented 318 19.4
    Fully owned 260 15.9
    Other tenure type 6 0.4
    Tenure Type
Census 2011, ABS
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