ACT has seen average median house prices change by 3.30% which means that Gungahlin, 2912 has done well for property investors by showing a capital gain of 2.76% over the last year
The five-year average increase in median property values for Gungahlin,2912 has given property investors a potential capital gain of 37.96% across each of those five years.
Gungahlin, 2912 is offering ACT ‘s 14th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this ACT.
In the last year 45 properties changed hands in Gungahlin, which puts it as the 45th most active market in ACT when comparing the number of sales per suburb.
Property investors who have had real estate in Gungahlin, 2912 should be relatively pleased with this ACT suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 6.04%
Across a shorter period, Gungahlin, 2912 has seen a median price increase of -1.21% over the last quarter.
Property buyers and investors in Gungahlin 2912 should be seeing an average reduction in asking price of around -4.54% . This means that Gungahlin is holding prices well when compared to other suburbs in ACT.
Advertised rents are around the $450 mark per week – giving a return of 6.37% based on the median price in Suburb
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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.