How Much Of The Housing Market Can You Afford?
Aussies can no longer rely on their incomes and savings alone to fund a property purchase, as prices soar and incomes st...
Property investors have seen a 0.91% gain in NARRABUNDAH based on an increase in median home prices for the past three months.
Based on its average 5-year and quarterly capital gains NARRABUNDAH, 2604 saw average growth in the long term.
The ACT suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $999,000
Profits averaged 6.19% per annum over a 3-year period, due to an upward trend in home prices in NARRABUNDAH, 2604.
This means, real estate investors could earn a rental income of $645 based on current median home prices for the suburb.
The gross rental yield in NARRABUNDAH, 2604 is 3.36%.
An average of 8.17 real estate transactions take place per month in NARRABUNDAH which translates to 98 per annum.
Narrabundah is a mature suburb known for its leafy estates. It is located on the inner south-west of the city of Canberra and straddles a large section of land above the Capitol Golf Club. It borrows its name from the Ngunnawal word which translates to “bird of prey”.
Narrabundah is famed for its pin oaks that lend neighbourhoods warmth and colour during the changing seasons. Its abundant gardens and parks also make it a popular suburb of choice among Canberrans and those moving into the capital city, with the Rocky Knob park in Upper Narrabundah a resident favourite.
Just like its surrounding suburbs, Narrabundah’s residents prize its greenery, myriads of open spaces and recreational facilities, and tight-knit community. It has access to two primary schools, an esteemed secondary school, Narrabundah College, a church and a number of lifestyle hubs. Its residents hail from Australia, England, Italy, Germany, New Zealand, Scotland, India, United States and China.
Narrabundah used to be the site where fibro cottages for European labourers hired to build the city of Canberra were located. These dwelling structures were followed by the brick townhomes of the 1950s, some of which are being considered as heritage properties. Today, Narrabundah’s housing stock is composed of both these brick duplexes and spacious bungalows in Federation and contemporary style, as well as apartment blocks. Houses for sale in Narrabundah are mostly townhomes.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||7.71%||7.06%|
|Median 3 years||18.58%||9.3%|
|Median 5 years||35.55%||10.85%|
|10 years average annual||4.19%||-0.22%|
|Weekly media advert. rent||$645||$470|
|Time on Market||66.1 days||60.4 days|
|Gross Rental Yield Percent||3.36%||5.2%|