Perth Rentals Down 10-30% From Peak
The Perth rental market has risen in affordability, with a new analysis showing more than 200 suburbs with median house ...
Property investments in WARAMANGA did not fare well against the rest of the country last year, registering a median home price decrease of 5.5%.
Figures from the previous quarter show that capital gains for real estate buyers in the territory are low, as opposed to average gains per annum over the past five years.
Based on its average 5-year and quarterly capital gains WARAMANGA, 2611 saw average growth in the long term.
Real estate investors could earn a rental income of $560 based on current median home prices for the suburb.
It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 0.0 days.
Besides that, the Australian suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Property investors perceived the median home price rise to $738,000.
WARAMANGA ranks 44th on the list of best yielding suburbs for rental properties in ACT, posting a 3.95% return.
Waramanga is a suburb in the Weston Creek district of Canberra, ACT. It is bounded by Hindmarsh Drive, Badimara Street, Namatjira Drive and the Tuggeranong Parkway. Waramanga is beside the suburbs of Fisher, Chifley, Rivett and Weston.
The suburb was named after the Aboriginal Warumungu people and gazetted as a suburb in 1968. Its street names were inspired by Aboriginal tribal units.
Waramanga's population numbers an estimated 2,630. It is composed of 697 families, with 1.8 children on average. Majority of the population were born in Australia, while other residents were born in England, India, the Philippines, New Zealand and Italy.
Access to essential amenities
Waramanga has a bustling shopping centre replete with shops catering to its residents' basic needs. The centre houses a grocery, restaurant, pharmacy, medical facility, salons, the headquarters of a news organisation, and a postal service. There's no dearth of academic institutions in the area, with schools located along Namatjira Drive and Nemarang Crescent. Waramanga also has a couple of churches, health care facilities, and efficient transport links.
Real estate activities
Waramanga is among the Weston Creek suburbs whose property auction clearance rates cannot be ignored. The average time properties spend on the market in Waramanga is just 40.1 days, based on an aggregate of recent sales. The average house price in the suburb is $677,000 although vacant lots could cost a whopping$500,000 or more, depending on the location.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||5.5%||N/A|
|Median 3 years||19.03%||N/A|
|Median 5 years||30.62%||N/A|
|10 years average annual||3.58%||N/A|
|Weekly media advert. rent||$560||N/A|
|Time on Market||0.0 days||N/A|
|Gross Rental Yield Percent||3.95%||N/A|