Property value increases in Gungahlin have tracked just higher than the ACT average of 4.81% over the last 12 months.
Across a shorter period, Gungahlin, 2912 has seen a median price increase of 0.67% over the last quarter.
Our latest figures would indicate that property sellers in Gungahlin are currently offering property investors an average price cut of -3.83% below the asking price at the moment.
A $620 per week rent on the median house gives suburb investors a gross yield of circa 4.27%, without taking into account capital value appreciation, which has been averaging out at 4.38%.
Gungahlin has had a A very good year for property investment returns compared to the rest of ACT, giving investors a capital gain of 8.45% to date .
If we look at median property appreciation over just the last three months, Gungahlin has given property investors a paper return of 1.32%. This puts Suburb as 21 on a list of fastest fasting appreciating suburbs in ACT
Property buyers and investors in Gungahlin 2912 should be seeing an average reduction in asking price of around -5.82% . This means that Gungahlin is holding prices well when compared to other suburbs in ACT.
Situated 10.55km from the CBD, Gungahlin is one of Unincorporated ACT localities in the postcode 2912.
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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.