Giving property investors a a stable capital gain of 1.50% for the last year, Palmerston, 2913 is the 1561th highest performer in Australia in this respect.
When looking at the potential capital gains offered to property investors over the last 3 years, Palmerston comes in at number 6th in ACT.
Palmerston has had a pretty good year for property investment returns compared to the rest of ACT, giving investors a capital gain of 4.15% to date .
The five-year average increase in median property values for Palmerston,2913 has given property investors a potential capital gain of 10.53% across each of those five years.
On average over the past year, suburb has had 2.92 sales per month, which equates to 35 per year.
With the median price for a house in Palmerston being $420000 and the advertised rent reaching $440 the gross rental yield for property investors calculates out to be 5.45%
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.