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Property investors enjoyed capital gains of 4.8% over the last 12 months in CHIFLEY, translating to lower returns compared with its peers in ACT.
Figures from the previous quarter show that capital gains for real estate buyers in CHIFLEY are low, as opposed to average gains per annum over the past five years.
The suburb posted a 14.23% growth in median prices over a three-year period. This is considerably lower than the gains it recorded over the past year.
This number can mean, real estate investors could earn a rental income of $630 based on current median home prices for the suburb.
On average, rents on listings have reached the $630 mark, reflecting a 3.85% increase in returns based on the current median price in CHIFLEY.
CHIFLEY, 2606 ranks 68th in ACT in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 50th on the list of best yielding suburbs for rental properties in ACT, posting a 3.85% return.
Chifley is a suburb in the ACT that was among the first suburbs established in the Woden Valley District in 1966. It borrows its name from Joseph Benedict Chifley who was the prime minister of Australia between 1945 and 1949.
Chifley lies on a flatland at the foot of Mount Taylor, which stands against its backdrop. It offers straightforward amenities for its residents and has a number of retail shops, restaurants, and public facilities, such as a community oval and playground. Most of its lifestyle shops and service providers are situated along Eggleston Crescent. The suburb also has a church and a preschool.
Chifley has a largely adult population with a median age of 37 years. It has a diverse community of Australian-born residents and immigrants hailing from India, England, China, Pakistan and New Zealand. Most of the dwelling structures where they reside in are three-bedroom homes.
Most of the houses for sale in Chifley are bungalows with wide front lawns and garage as well as off-the-plan housing and land packages. It is common to see vacant lots for sale at established neighbourhoods and apartment units as part of current market listings. Commercial properties for lease are also present on real estate listings from time to time.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||4.8%||6.56%|
|Median 3 years||14.23%||13.04%|
|Median 5 years||26.07%||-36.15%|
|10 years average annual||4.59%||2.44%|
|Weekly media advert. rent||$630||$430|
|Time on Market||83.8 days||47.9 days|
|Gross Rental Yield Percent||3.85%||6.88%|