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Red Hill
AREA REPORTS

Red Hill

Red Hill - SUBURB PROFILE REPORT
POSTAL CODE: ACT, 2603

house

Property investments in RED HILL fare well against the rest of the country last year, registering a median home price increase of 0%.

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 RED HILL, 2603 saw average growth in the long term.

Real estate investors could earn a rental income of $900 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 108.3 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 $1,600,000.

RED HILL ranks 79th on the list of best yielding suburbs for rental properties in ACT, posting a 2.93% return.

Surburb overview

Like its neighbouring suburbs, Red Hill is in a strategic location that one can use as a starting point for exploring the entire Australian capital of Canberra. As its name suggests, Red Hill was named after the colour of the soil found in the area. It is famous for its lookout, which offers an amazing panorama of Canberra.

Points of interests

Mobs of kangaroos are a common sighting in Red Hill, as well as several exotic avian species. It is also famous for its heritage houses and landmarks, which have been preserved through the governments conservation efforts. Among these properties is the Calthorpes’ House, a 1927 home built in the California mission-style, which offers a glimpse of domestic life in Canberra in the early 20th century. The Royal Australian Institute of Architects headquarters and the prestigious Canberra Grammar School are also on the suburb’s heritage list.

Strong sales

Red Hill’s property market is heating up, due to a string of successful auctions in which multi-unit homes were sold for over $1 million. The windfall sales make Red Hill one of the most expensive auction sites across Canberra, which is already a high-demand location for buyers who want to enter Canberra’s real estate. Canberra in itself is a competitive auction market for properties, and realtors agree that it has the potential to eclipse Sydney and Melbourne in terms of clearance rates.

Data report can be found below

Red Hill
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $1,600,000 N/A
GROWTH REPORT
Median Quarterly 0% N/A
Median 12 month 0% N/A
Median 3 years 12.16% N/A
Median 5 years 32.23% N/A
10 years average annual 4.44% N/A
Weekly media advert. rent $900 N/A
Time on Market 108.3 days N/A
Gross Rental Yield Percent 2.93% N/A
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.
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