Franklin has had a A very good year for property investment returns compared to the rest of ACT, giving investors a capital gain of 14.48% to date .
While Franklin,2913 ranked number 39th in ACT for increase in median house value (annualised) increase, it is ranked 29th over the last 5 years.
State is the 8th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.62% offered to property buyers. Sellers in Franklin itself are offering an average vendor discount of -4.32% to real estate investors.
Using the current median advertised rental of $650 and the average annual increase in value of a median property of 8.48%, investors should hope to achieve an overall return of 4.36%
Investment property in Franklin has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -1.91%
The five-year average increase in median property values for Franklin,2913 has given property investors a potential capital gain of 3.50% across each of those five years.
Our latest figures would indicate that property sellers in Franklin are currently offering property investors an average price cut of -4.86% below the asking price at the moment.
Often selling an investment property can take time, and in Franklin the average time real estate has been on the market is 96.9178 days.
A $450 per week rent on the median house gives suburb investors a gross yield of circa 6.28%, without taking into account capital value appreciation, which has been averaging out at 1.36%.
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.