NAB Tips 19% Price Growth For Property In 2021
One of Australia’s biggest banks has upped their expectations for Australia’s residential housing market, tipping 19...
A 12.41% increase in median property prices in FISHER, 2611 has allowed this suburb to join the ranks of best performing suburbs in ACT, settling at number 35th.
A steady increase in median property prices over a five-year period in the suburb translates to a 16.31% 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 $770,000
The augmented property values in the suburb are trailing above the territorial average of 9.9% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $560.
Home owners selling their properties and realtors in FISHER usually have to wait an average of 57.2 days days before their assets are lifted off the market.
The ACT suburb ranks 54th on the list of best yielding suburbs for rental properties in ACT, posting a 3.78% return.
It also places places 31st in Australia based on median property value growth during the quarter.
Fisher is a suburb in the Weston Creek district of Canberra, ACT, bounded by Tuggeranong Parkway, Badimara Street, and Namatjira Drive. Its abutting suburbs are Chapman, Waramanga, and Kambah. The suburb’s namesake was Andrew Fisher, a coal miner who later became the prime minister of Australia. The suburb’s street names were inspired by his background and the names of mines and mining regions in the country.
The median age of residents in Fisher is 39 years. Its community boasts of mixed heritage: while majority of residents are Australian-born, an increasing number of the suburb’s dwellers hail from England, China, New Zealand, India and the Philippines.
The government’s forecast revealed that the population in Weston Creek, on the whole, will increase, but this growth will be offset by the exit of residents from the Tuggeranong district. ACT in general, however, will have more younger residents, but septuagenarians will jump by 50 per cent. This explains the abundance of properties targeted at the elderly.
Properties for sale in Fisher are a mix of units or attached homes such as duplexes or bungalows in retirement villages, as well as separate houses. The median home price in Fisher is around $600,000 for a typical, spacious home, though smaller properties command a lower asking price. The average number of days a property spends on the market is 48.6 days.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||12.41%||N/A|
|Median 3 years||16.31%||-2.19%|
|Median 5 years||40%||1.52%|
|10 years average annual||4.02%||-0.59%|
|Weekly media advert. rent||$560||N/A|
|Time on Market||57.2 days||94.7 days|
|Gross Rental Yield Percent||3.78%||N/A|