A steady increase in median property prices over a five-year period in the suburb translates to a 11.17% capital gain.
Property investors in GARRAN enjoyed capital gains of 5.98% 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 $975,000.
Profits due to an upward trend in home prices there averaged 3.72% per annum over a 3-year period.
Home owners selling their properties and realtors in GARRAN usually have to wait an average of 130.9 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $590 mark, reflecting a 3.15% increase in returns based on the current median price in GARRAN.
GARRAN, 2605 places 75th in Australia based on median property value growth during the quarter.
Property investors in GARRAN enjoyed capital gains of 0.9% 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 low, as opposed to average gains per annum over the past five years.
GARRAN posted a 2.85% growth in median prices over a three-year period. This is considerably higher than the gains it recorded over the past year.
Real estate investors could earn a rental income of $540 based on current median home prices for the suburb.
Average weekly rents on listings have reached the $540 mark, reflecting a 5.01% increase in returns based on the current median price in GARRAN.
GARRAN, 2605 ranks 41st in ACT in terms of median property value increase and capital gains, based on year-to-date figures.
GARRAN ranks 42nd on the list of best yielding suburbs for rental properties in ACT, posting a 5.01% return.
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