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 -1.52%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Banks has increased when compared to the 5 year average annual rate.
State is the 8th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.26% offered to property buyers. Sellers in Banks itself are offering an average vendor discount of -2.84% to real estate investors.
Residents and property investors in Banks have been waiting around 52.9655 days to sell a property.
Property investors should expect to get $470 weekly from the median priced house in this suburb.
Over the last year, property investments in Banks, 2906 have given investors a capital gain of 1.79%. This compares averagely with the 0.65% for ACT as a whole.
While Banks,2906 ranked number 27th in ACT for increase in median house value (annualised) increase, it is ranked 49th over the last 5 years.
In the last year 22 properties changed hands in Banks, which puts it as the 34th most active market in ACT when comparing the number of sales per suburb.
Using the current median advertised rental of $432.5 and the average annual increase in value of a median property of 2.48%, investors should hope to achieve an overall return of 5.26%