Property Growth Expectations Hit Record Highs
Confidence in the property industry is just shy of setting a new record, buoyed by the speed of economic turnaround and ...
The suburb’s capital gain of 9.19% for the past year is higher than average compared to its 32.81% growth within a five-year period.
Also in CURTIN, the median home price is sitting at $1,010,000, and the average rent at $620, this suggests property owners could potentially earn a 3.19% increase in gross rental yield.
Property investors have seen a 2.28% gain in CURTIN based on an increase in median home prices for the past three months.
A survey of average capital gains or median home price increase in suburbs across the country shows that this suburb obtained a 4.16% growth over a ten-year period. It ranks 2001st on our list of suburbs that property investors should look into.
The Canberra suburb of Curtin is situated in the eastern side of its city centre next to the suburbs of Hughes, Lyons, Deakin and Yarralumla. Curtin was named in honour of John Curtin, the Australian prime minister from 1941 to 1945.
Curtin's landscape is marked by irregular slopes and flatlands with dense foliage. Its soil appears arid and ruddy due to its volcanic content. Horse paddocks and playing fields are also located on its western side.
A relatively young suburb, Curtin was developed in 1950s and only spent its golden anniversary a few years ago. The suburb was based on the Radburn design, which was characterised by a consecutive row of houses sharing a common yard out front, and with the back of the homes facing the street. Most of the Canberran suburbs developed during this era are planned after this design movement.
Curtin has a strong sense of community, where locally-owned shops thrive and are patronised. Residents are notoriously proud of the heritage of their humble neighbourhood, and are quite steadfast in fighting for the preservation of their landmarks and decades-old shops. A consortium of residents, for instance, won against a major developer which submitted a proposal to erect a high-rise mixed-use development near the town square that could eclipse homegrown shops. Sentiments against the redevelopment prevailed.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||9.19%||-1.89%|
|Median 3 years||15.96%||-20.91%|
|Median 5 years||32.81%||-33.97%|
|10 years average annual||4.16%||-7.55%|
|Weekly media advert. rent||$620||$360|
|Time on Market||87.4 days||82.6 days|
|Gross Rental Yield Percent||3.19%||7.2%|