Over the last year, property investments in Franklin, 2913 have given investors a capital gain of -8.68%. This compares very badly with the 2.94% for ACT as a whole.
While Franklin,2913 ranked number 40th in ACT for increase in median house value (annualised) increase, it is ranked 52th over the last 5 years.
The most recent median price for Franklin is $683500, with sellers offering an average of -2.89% off the asking price.
At number 1053 in a list of fastest selling suburbs, Franklin is in the TOP 30% of suburbs in Australia with an average of days on market 61.7963 for properties listed there.
Franklin is 15th on a list of best yielding suburbs for rents in ACT with a 4.77% return
With a capital gain of -3.36% for the last 12 months, Franklin, 2913 has performed for property investments than its average annual 0.89% property growth over the last 5 years.
The five-year average increase in median property values for Franklin,2913 has given property investors a potential capital gain of 0.64% across each of those five years.
Property buyers and investors in Franklin 2913 should be seeing an average reduction in asking price of around -3.98% . This means that Franklin is holding prices well when compared to other suburbs in ACT.
A $440 per week rent on the median house gives suburb investors a gross yield of circa 6.23%, without taking into account capital value appreciation, which has been averaging out at 0.89%.
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.