Homeowners and real estate investors betting on GARRAN, 2605 can rest assured about this ACT suburb's performance. The suburb saw median home prices rise by 13.16%.
A steady increase in median property prices over a five-year period in the suburb translates to a 14.01% capital gain.
Property investors in GARRAN enjoyed capital gains of 13.16% over the last 12 months translating to lower returns compared with its peers in the territory.
The 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 $993,000.
Profits due to an upward trend in home prices there averaged 4.67% per annum over a 3-year period.
Home owners selling their properties and realtors in GARRAN usually have to wait an average of 0.0 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $645 mark, reflecting a 3.38% increase in returns based on the current median price in GARRAN.
GARRAN, 2605 places 23rd in Australia based on median property value growth during the quarter.
Property investors in GARRAN enjoyed capital gains of 2.73% over the last 12 months translating to lower returns compared with its peers in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in GARRAN are high, as opposed to average gains per annum over the past five years.
GARRAN posted a 4.63% growth in median prices over a three-year period. This is considerably lower than the gains it recorded over the past year.
Real estate investors could earn a rental income of $525 based on current median home prices for the suburb.
Average weekly rents on listings have reached the $525 mark, reflecting a 4.83% increase in returns based on the current median price in GARRAN.
GARRAN, 2605 ranks 38th in ACT in terms of median property value increase and capital gains, based on year-to-date figures.
GARRAN ranks 46th on the list of best yielding suburbs for rental properties in ACT, posting a 4.83% return.
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