Giving property investors a an unimpressive capital gain of -4.83% for the last year, Palmerston, 2913 is the 3033th highest performer in Australia in this respect.
Over the longer term, Palmerston has seen property prices show investors a 17.12% return over the last 3 years. This is worse than over the last 12 months
Palmerston is 56th on a list of best yielding suburbs for rents in ACT with a 4.04% return
Palmerston, 2913 ranked 18th in ACT when comparing growth in median property values or capital gain over the last 12 months. Palmerston is one of 126 in our list for ACT
Palmerston,2913 has offered an average of 4.94% return per annum in house price rises to property investors over the last three years.
Advertised rents are around the $440 mark per week – giving a return of 5.59% based on the median price in Suburb
Information supplied by:
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.