Powered by MOMENTUM MEDIA
Forrest
AREA REPORTS

Forrest

Forrest - SUBURB PROFILE REPORT
POSTAL CODE: ACT, 2603

house
unit

Property investments in FORREST fare well against the rest of the country last year, registering a median home price increase of 16.53%.

Figures from the previous quarter show that capital gains for real estate buyers in the territory are low, as opposed to average gains per annum over the past five years.

Based on its average 5-year and quarterly capital gains FORREST, 2603 saw average growth in the long term.

Real estate investors could earn a rental income of $895 based on current median home prices for the suburb.

It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 0.0 days.

Besides that, the Australian suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.

Property investors perceived the median home price rise to $2,855,000.

FORREST ranks 88th on the list of best yielding suburbs for rental properties in ACT, posting a 1.63% return.

Surburb overview

Forrest is one of the most coveted postcodes in the Australian capital city of Canberra. The suburb got its name from Sir John Forrest, one of the founding fathers of the Australian constitution. Its northern edge is bordered by the State Circle, just across the Parliament House.

A stone’s throw away from the man-made Lake Burley Griffin, Forrest is home to the most exclusive neighbourhoods in the entire country. It is one of the most expensive places in Australia to live in, with a median home price that just reached the AU$2 million mark. This is due to the low stock of homes in Forrest and high demand pushing prices up.

Dwelling spaces

Record-breaking sales of multi-unit homes are not unheard of in this prestigious suburb, though that doesn’t mean that all buyers are priced out. Houses for sale are typically bungalows in contemporary or Federation-style architecture — sometimes, even Mediterranean — with a nice front lawn or landscaped garden.

Apartments are considered by residents as an affordable alternative to homes, with a median price that doesn’t break the bank. Current developments in the suburb include multi-family real estate and mixed-use developments.

Forrest has a number of primary schools and childcare centres, hotels and public spaces. Nearby Manuka and Kingston offer a number of lifestyle choices for residents, including fine dining restaurants, cafés and retail shops.

Data report can be found below

Forrest
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $2,855,000 $607,500
GROWTH REPORT
Median Quarterly -5.46% 12.5%
Median 12 month 16.53% 13.02%
Median 3 years 7.7% 16.83%
Median 5 years 26.89% -23.58%
10 years average annual 6.18% 1.72%
Weekly media advert. rent $895 $575
Time on Market 0.0 days 88.5 days
Gross Rental Yield Percent 1.63% 4.92%
demographics (median values)*
Total Population
9359
Weekly Household Income
2395
Household Size
2.30
Age
41
Monthly Loan Repayment
2500
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
select a category
Age group
Top 10 Birth Countries
Dwelling Structures
Education
Household Income
Labour Force
Marital Status
Occupation
Religious Affiliation
Tenure Type

Get the latest news & updates

Join a community of over 100,000 property investors.

Check this box to receive podcast updates

Related Articles


Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.