Hughes

POSTAL CODE: ACT, 2605

HOUSE

UNIT

A steady increase in median property prices over a five-year period in the suburb translates to a -8.61% capital gain.

It 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 $1,279,500

The augmented property values in the suburb are trailing behind the territorial average of 5.26% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $775.

Home owners selling their properties and realtors in HUGHES usually have to wait an average of 81.5 days days before their assets are lifted off the market.

The ACT suburb ranks 72nd on the list of best yielding suburbs for rental properties in ACT, posting a 3.15% return.

It also places places 66th in Australia based on median property value growth during the quarter.

Property investors enjoyed capital gains of 23.65% over the last 12 months in HUGHES, translating to higher returns compared with its peers in ACT.

A survey of average capital gains or median home price increase in suburbs across the country shows that HUGHES, 2605 obtained a 6.79% growth over a ten-year period. It ranks 579th on our list of suburbs that property investors should look into.

HUGHES, 2605 has a capital gain of 23.65% for the past year, which is higher than average compared to its -10.3% growth within a five-year period.

With the median home price in HUGHES sitting at $379,000, and the average rent at $470, property owners could potentially earn a 6.45% increase in gross rental yield.

Figures from the previous quarter show that capital gains for real estate buyers in HUGHES are high, as opposed to average gains per annum over the past five years.

HUGHES, 2605 in ACT belongs to the local government area of Unincorporated ACT.

Surburb overview

Hughes is a suburb belonging to the District of Woden, in the capital city of Canberra in the Australian Capital Territory. It links the suburbs of Deakin, Phillip, Garran and Curtin.

Demographics profile

Based on census data, Hughes has a close to middle-age population, with a median age of 44. Nearly half of the population is married in Hughes, with an average people per household of 2.5. The female population numbers more than males by a small difference.

As for country of birth, nearly 70 per cent of the suburb’s residents were Australian-born. Other countries of origin include England, New Zealand, India, the United States of America and mainland China. The most common languages spoken at home are English, French, Malayalam, Mandarin, Italian and Vietnamese.

Real estate environment

The streetscape in Hughes is leafy, with walking tracks and houses featuring decent-sized front lawns. The housing stock consists of a mix of terraced homes, brick apartments and bungalows, and, at times, luxurious mansions.

Occupancy rates in owned properties are high in Hughes, with just a tiny percentage of the properties unoccupied. A great number of these properties are homes with three bedrooms on average.

Houses for sale in Hughes oscillate between old bungalows that are perfect candidates for renovations as well as mansions. Units and land releases are also a common feature of listings.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$1,279,500	$379,000
Growth Report
Median Quarterly	-1.54%	0%
Median 12 month	-5.22%	23.65%
Median 3 years	-8.61%	19.18%
Median 5 years	8.89%	-10.3%
10 years average annual	4.45%	6.79%
Weekly media advert. rent	$775	$470
Time on Market	81.5 days	N/A
Gross Rental Yield Percent	3.15%	6.45%

Demographics (Median Values)*

Total Population 11725

Weekly Household Income 2273

Household Size 2.60

Average Age 43

Monthly Loan Repayment 2383

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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