Demand For Homes Stays High In 1 State While The Rest Fall Back
Rising interest rates have eased demand from potential buyers, which has been reflected in the slowing of home price gro...
Homeowners and real estate investors betting on LYONS, 2606 can rest assured about this ACT suburb's performance. The suburb saw median home prices rise by 36.17%.
A steady increase in median property prices over a five-year period in the suburb translates to a 60.36% capital gain.
Property investors in LYONS enjoyed capital gains of 36.17% 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 $1,218,750.
Profits due to an upward trend in home prices there averaged 20.12% per annum over a 3-year period.
Home owners selling their properties and realtors in LYONS 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 $690 mark, reflecting a 2.94% increase in returns based on the current median price in LYONS.
LYONS, 2606 places 78th in Australia based on median property value growth during the quarter.
Lyons is a suburb in the city of Canberra, in the ACT. It was named after Joseph Lyons, the former Labor premier of Tasmania.
Many prefer Lyons for its quiet ambiance, low crime rate and proximity to amenities. Lyons has one primary school, the Lyons Early Childhood School, and secondary schools and colleges, such as the Canberra College, are a drive away and are located in nearby suburbs. Lyons is also close to the Canberra Hospital and is just a quick drive to the central business district.
Scorched, desert-like ambiance
Lyons has a desert-like ambience and its streetscape features an array of native plants and trees, with pine trees being the most common. Some of its neighbourhoods are in elevated places, offering a nice view of Oakey Hill, Mount Taylor, and Red Hill. Lyons also has a number of walking tracks where one can enjoy the surrounding views of Weston Creek.
Property buyers are drawn to Lyons’ housing estates not just for its strategic location, but for its nice pool of houses for sale and relative affordability – although larger and well-positioned properties could set buyers back for over a million dollars. Buyers are afforded the freedom to erect homes on parcels of land in their preferred designs, as well. Tourists and real estate buyers also patronise its cafe culture, and deem it as a shot in the arm that lifestyle hubs across the city needs.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||36.17%||41.11%|
|Median 3 years||60.36%||-5.26%|
|Median 5 years||62.99%||50%|
|10 years average annual||7.25%||4.36%|
|Weekly media advert. rent||$690||$450|
|Time on Market||0.0 days||54.2 days|
|Gross Rental Yield Percent||2.94%||5.78%|