Property value increases in Gungahlin have tracked just lower than the ACT average of 2.94% over the last 12 months.
The five-year average increase in median property values for Gungahlin,2912 has given property investors a potential capital gain of 32.47% across each of those five years.
State is the 8th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.08% offered to property buyers. Sellers in Gungahlin itself are offering an average vendor discount of -3.98% to real estate investors.
Advertised rents are around the $592.5 mark per week – giving a return of 4.30% based on the median price in Suburb
Gungahlin is in the TOP 20% in ACT when comparing median price capital growth over the last year. Gungahlin gave property investors a very good capital gain figure when compared to the rest of the state, with 10.80%.
While Gungahlin,2912 ranked number 5th in ACT for increase in median house value (annualised) increase, it is ranked 33th over the last 5 years.
Sellers are offering property buyers an average discount of -3.49% to buyers in Gungahlin at the moment, which is less than average for the rest of ACT.
On average over the past year, suburb has had 5.08 sales per month, which equates to 61 per year.
Information supplied by:
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.