If you compare the increase in value of investment property in Gungahlin, 2912 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this ACT suburb was 4.64%.
Gungahlin,2912 has offered an average of 4.64% return per annum in house price rises to property investors over the last three years.
With the median price for a house in Gungahlin being $790000 and the advertised rent reaching $600 the gross rental yield for property investors calculates out to be 3.95%
Property value increases in Gungahlin have tracked lower than the ACT average of 7.32% over the last 12 months.
Taking the average capital gain, or increase in median house value, Gungahlin,2912 has racked up an average of 0.00% over the period. This ranks it number 538th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in Gungahlin are currently offering property investors an average price cut of -4.03% below the asking price at the moment.
On average over the past year, suburb has had 9.50 sales per month, which equates to 114 per year.
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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.