With a capital gain of 1.40% for the last 12 months, Gungahlin, 2912 has performed for property investments than its average annual 4.38% property growth over the last 5 years.
Over the longer term, Gungahlin has seen property prices show investors a 16.00% return over the last 3 years. This is worse than over the last 12 months
Gungahlin2912 is located in ACT which offers an average discount of -3.27% to property investors. Gungahlin itself is showing figures that indicate -4.11% is the average achievable by property buyers investing in the suburb.
A $585 per week rent on the median house gives suburb investors a gross yield of circa 4.20%, without taking into account capital value appreciation, which has been averaging out at 4.38%.
If you compare the increase in value of investment property in Gungahlin, 2912 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this ACT suburb was -2.29%.
Over the longer term, Gungahlin has seen property prices show investors a 7.26% return over the last 3 years. This is worse than over the last 12 months
Vendor discounting in Gungahlin is giving property investors an average Vendor Discount of around -2.98%. This puts suburb at number 20th in ACT when ranking the most discounted suburbs.
At number 656 in a list of fastest selling suburbs, Gungahlin is just in the top half of suburbs in Australia with an average of days on market 69.8125 for properties listed there.
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Information supplied by:
March 2017
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Median unit price: $280,000
Rental yield: 5.75%
Larger two-bedroom units are the property of choice for buyers in the suburb of Gungahlin. These dwellings have attracted interest, especially among tenants, because of their affordability.
The suburb is also less than 30 minutes away from the centre of Canberra, which adds to its appeal. The average vacancy rate dropped considerably from almost 3% to just 2% over a 12-month period, indicating how popular the suburb has become.
In the rental market, studio and one-bedroom apartments are also on the rise. Rents increased by 3%, with average yield clocking in at almost 6%.
Gungahlin is home to several medical centres, as well as a shopping district. There are also cafes, restaurants, a grocery store and a recreation facility. The suburb is well-connected to other parts of the metro via a road network; thus, residents can easily travel by car or bus.