If you compare the increase in value of investment property in Palmerston, 2913 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this ACT suburb was 12.00%.
Taking the average capital gain, or increase in median house value, Palmerston,2913 has racked up an average of 12.00% over the period. This ranks it number 1633th in the whole country for real estate investors looking at median house price increases.
Sellers are offering property buyers an average discount of -2.49% to buyers in Palmerston at the moment, which is less than average for the rest of ACT.
The ACT suburb of Palmerston, 2913 is in the Unincorporated ACT local government area.
Property investors who have had real estate in Palmerston, 2913 should be ok 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 2.58%
Comparing Palmerston,2913 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
State is the 8th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -3.61% offered to property buyers. Sellers in Palmerston itself are offering an average vendor discount of -2.23% to real estate investors.
Renters in Suburb are facing rents around $5100 per annum or $425 every week.
The townhouse market is looking quite strong, with a 2.5% increase in median price. This demand could be fuelled by the low prices, as affordability is a key factor for both investors and owner occupiers alike in the current market.Full summary
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Median townhouse price: $369,000
Rental yield: 5.77%
The suburb of Palmerston was only the second Gungahlin suburb to undergo development. This area is mainly residential, with single homes and duplexes.
The townhouse market is looking quite strong, with a 2.5% increase in median price. This demand could be fuelled by the low prices, as affordability is a key factor for both investors and owner occupiers alike in the current market. However, it is the rental market that is shining – rents rose by a considerable 5%, and returns to investors are quite high at 5.8%.
Palmerston is well-stocked with amenities, including medical centres, shopping hubs and community centres. An oval has been established adjacent to Palmerston Primary School for sports and recreation, and there are several bicycle trails crossing the suburb. Palmerston’s streets are also festooned with fruit trees.
The suburb is linked to the Gungahlin Town Centre via bus. These routes also go to Belconnen. Canberra is a 20-minute drive along Barton Highway and Northbourne Avenue.Close