Suburb Profile Report for Gungahlin ACT (2912)

Gungahlin House: Median price $721,000, Annual capital growth 4.38%, Number of sales 57, Weekly median advertised rent $585

Gungahlin Unit: Median price $369,950, Annual capital growth 1.41%, Number of sales 69, Weekly median advertised rent $450

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Jul 2019 as supplied by CoreLogic. Data is reported to the period ending Apr 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

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.

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.
 

Metrics i HOUSE UNIT
$721,000 $369,950
0.55% 1.66%
1.40% -2.29%
4.38% 1.41%
$585 $450
57 69
4.20% 6.46%
56.07895 69.8125

Source: Monthly data update for Jul 2019 as supplied by CoreLogic. Data is reported to the period ending Apr 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Good (U)
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Demographics
Total population 5617
Median household income ($/weekly) 2074
Median age of persons 29
Median housing loan repayment ($/monthly) 2167
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 730 13.0
    20-24 years 643 11.4
    25-34 years 1328 23.6
    35-44 years 1034 18.4
    45-54 years 564 10.0
    Others 1318 23.5
    Age Group
    Census Count Percent(%)
    Registered Married 1900 47.2
    Not Married 1650 41.0
    Defacto Relationship 478 11.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 3307 62.1
    Croatia 379 7.1
    Indonesia 188 3.5
    United Kingdom 148 2.8
    Other 336 6.3
    Others 967 18.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 346 6.8
    Christianity 2796 54.8
    Hinduism 216 4.2
    Islam 208 4.1
    No Religion 1456 28.6
    Others 76 1.5
    Religious Affiliation
  • Census Count Percent(%)
    $1,250-$1,499 154 8.9
    $1,500-$1,999 265 15.2
    $2,000-$2,499 225 12.9
    $2,500-$2,999 256 14.7
    $3,000-$3,499 177 10.2
    Others 661 38.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2328 56.2
    Not in the labour force 781 18.8
    Employed, worked part-time 723 17.4
    Employed, away from work 195 4.7
    Unemployed, looking for work 119 2.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 507 15.6
    Professionals 877 27.0
    Technicians & trades workers 383 11.8
    Community & personal service workers 314 9.7
    Clerical & administrative workers 601 18.5
    Others 566 17.4
    Occupation
    Census Count Percent(%)
    Pre-school 108 6.3
    Infants/Primary 500 29.3
    Secondary 320 18.8
    Technical or Further Educational Institution 186 10.9
    University or other Tertiary Institutions 542 31.8
    Others 48 2.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2711 51.0
    Semi-detached, row or terrace house, townhouse 1759 33.1
    Flat, unit or apartment 804 15.1
    House or flat attached to a shop, office 38 0.7
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 955 50.7
    Being purchased 733 38.9
    Fully owned 190 10.1
    Other tenure type 5 0.3
    Tenure Type
Census 2011, ABS
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