Suburb Profile Report for Franklin ACT (2913)

Franklin House: Median price $725,000, Annual capital growth 8.35%, Number of sales 62, Weekly median advertised rent $630

Franklin Unit: Median price $370,000, Annual capital growth 0.93%, Number of sales 63, Weekly median advertised rent $440

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

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

  • Expert Report
  • House Report
  • Unit Report

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:


March 2017

M
O

W
E

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.

Metrics i HOUSE UNIT
$725,000 $370,000
7.89% -2.63%
3.94% -2.57%
8.35% 0.93%
$630 $440
62 63
4.52% 6.18%
64.3653846153846 92.3269230769231

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

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Franklin ACT
Demographics
Total population 3807
Median household income ($/weekly) 2292
Median age of persons 28
Median housing loan repayment ($/monthly) 2600
Average household size 2.9
  • Census Count Percent(%)
    0-4 years 429 11.3
    5-14 years 462 12.1
    20-24 years 384 10.1
    25-34 years 1144 30.1
    35-44 years 664 17.5
    Others 721 19.0
    Age Group
    Census Count Percent(%)
    Registered Married 1469 53.9
    Not Married 914 33.5
    Defacto Relationship 342 12.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 2037 55.6
    Croatia 295 8.1
    Indonesia 252 6.9
    Viet Nam 102 2.8
    Other 378 10.3
    Others 600 16.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 248 7.0
    Christianity 1624 45.9
    Hinduism 322 9.1
    Islam 277 7.8
    No Religion 1012 28.6
    Others 54 1.5
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 167 14.6
    $2,000-$2,499 179 15.6
    $2,500-$2,999 188 16.4
    $3,000-$3,499 152 13.3
    $4,000 or more 92 8.0
    Others 368 32.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1676 59.9
    Not in the labour force 486 17.4
    Employed, worked part-time 434 15.5
    Employed, away from work 125 4.5
    Unemployed, looking for work 79 2.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 335 15.0
    Professionals 762 34.1
    Technicians & trades workers 231 10.3
    Community & personal service workers 171 7.6
    Clerical & administrative workers 409 18.3
    Others 328 14.7
    Occupation
    Census Count Percent(%)
    Pre-school 90 7.9
    Infants/Primary 307 26.9
    Secondary 191 16.7
    Technical or Further Educational Institution 134 11.7
    University or other Tertiary Institutions 373 32.7
    Others 46 4.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3177 87.3
    Semi-detached, row or terrace house, townhouse 299 8.2
    Flat, unit or apartment 165 4.5
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 791 64.4
    Rented 362 29.5
    Fully owned 76 6.2
    Other tenure type 0 0.0
    Tenure Type
Census 2011, ABS
Chart Table