Property investors who have had real estate in Franklin, 2913 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 3.94%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Franklin has increased when compared to the 5 year average annual rate.
Property investors looking for a bargain in Franklin should be aiming for at least -3.49% off the asking price, which is the average vendor discount being achieved at the moment.
Renters in Suburb are facing rents around $32760 per annum or $630 every week.
At number 773th in the list of Australian suburbs ordered by increase in median house value over the last year, Franklin, 2913 is in the BOTTOM 50% with a property value increase of -2.57% recorded in median house prices.
Over the longer term, Franklin has seen property prices show investors a 4.23% return over the last 3 years. This is worse than over the last 12 months
The most recent median price for Franklin is $370000, with sellers offering an average of -4.26% off the asking price.
Renters in Suburb are facing rents around $22880 per annum or $440 every week.
Information supplied by:
Median unit price: $359,500
Rental yield: 5.71%
The fairly new suburb of Franklin is one of those benefiting from Gungahlin’s development. This suburb recorded a jump of almost 7% in two-bedroom unit prices over the past 12 months, but it remains a reasonably priced area to invest in.
The rental market has followed by increasing rents at almost the same rate. In the process, investors can gain a significant average return of 5.7%. Although Franklin’s townhouse market did not report rises in rent rate, landlords can still earn a 5.3% yield.
The suburb is home to parklands, and it encourages a nature-filled, active lifestyle through pedestrian and cyclist trails. There are several schools at various education levels as well. For other amenities, Franklin is only 15 minutes away from Canberra by car and roughly half an hour by bus. The Marketplace at Gungahlin is minutes away and houses many shops and restaurants.