Harrison has had a very poor year for property investment returns compared to the rest of ACT, giving investors a capital gain of -7.49% to date .
If we look at median property appreciation over just the last three months, Harrison has given property investors a paper return of -3.25%. This puts Suburb as 83 on a list of fastest fasting appreciating suburbs in ACT
LACK OF BUYER INTEREST may well be the reason that Harrison is offering property investors an average of -4.26. This rate of discount on properties puts Suburb at number 6th in terms of most discounted suburbs in ACT
Investment property in Harrison has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -18.08%
Harrison,2914 was ranked 1448 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 -3.88. This rate of discount on properties puts Suburb at number 13th in terms of most discounted suburbs in ACT
In the last year 35 properties changed hands in Harrison, which puts it as the 20th most active market in ACT when comparing the number of sales per suburb.
Using the current median advertised rental of $450 and the average annual increase in value of a median property of 3.31%, investors should hope to achieve an overall return of 6.24%
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.