If you compare the increase in value of investment property in Harrison, 2914 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this ACT suburb was 5.26%.
Harrison,2914 was ranked 3433 in Australia by increase in median property value over the quarter.
LACK OF BUYER INTEREST may well be the reason that Harrison is offering property investors an average of -3.46. This rate of discount on properties puts Suburb at number 7th in terms of most discounted suburbs in ACT
Often selling an investment property can take time, and in Harrison the average time real estate has been on the market is 84.1563 days.
A $600 per week rent on the median house gives suburb investors a gross yield of circa 4.16%, without taking into account capital value appreciation, which has been averaging out at 6.59%.
Harrison has had a pretty good year for property investment returns compared to the rest of ACT, giving investors a capital gain of 7.68% to date .
Comparing Harrison,2914 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
The most recent median price for Harrison is $417000, with sellers offering an average of -2.33% off the asking price.
Using the current median advertised rental of $460 and the average annual increase in value of a median property of 0.67%, investors should hope to achieve an overall return of 5.74%
Information supplied by:
Median unit price: $269,000
Rental yield: 6.18%
In the Gungahlin district of Canberra, the suburb of Harrison is just 2km from Gungahlin’s town centre, which may have helped propel its modest growth of 1%.
In line with Canberra’s upward trend, rents increased by over 3%. Despite this rise, investors can still earn returns that can reach upwards of 6%.
In Harrison, which seeks to highlight nature in its street names, units are the top buy. Such properties are also priced low, and the present property market may present an opportunity to enter a rising market.
There are several public and private schools within the suburb, with some of these being fairly new. There are also a couple of parks with play areas for children, as well as shops and cafes in the vicinity, making this a popular suburb with families. Harrison is just 10km from Canberra; thus, residents are only a 20-minute drive from Australia’s capital.