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Reid

POSTAL CODE: ACT, 2612
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REID, 2612 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 $1,355,000.

Profits due to an downward trend in home prices in the suburb averaged -10.9% per annum over a 3-year period.

REID now ranks at the th place on a list of fastest growing suburbs in the territory.

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

Because of this real estate investors could earn a rental income of $757.5 based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In REID, homes and units usually stay on listing for an average of N/A.

In 2016, 12 properties were sold in REID during the past year, making it the 95th most active market in ACT based on total real estate transactions.

Surburb overview

Reid is a suburb situated next to Civic, Canberra’s city centre. Its namesake was Sir George Houstoun Reid, the country's fourth prime minister and one of the founders of the constitution. Street names in Reid were taken after Aboriginal words. The Australian War Memorial’s Anzac Parade, which runs along the ceremonial axis from Lake Griffin to the memorial, separates Reid from the neighbouring suburb of Campbell.

As one of the oldest suburbs in Canberra, Reid exudes a kind of old world charm, thanks to its 200 heritage homes and buildings and tree-lined boulevards. While it doesn’t have the busy locale of neighbouring Civic, Reid compensates with its quiet atmosphere, historic landmarks, and thriving art scene. The streetscape is dominated by grand two-storey homes on large lots featuring wider front lawns, and backyards with the occasional leisure pool.

Developments in Reid

New developments in the suburb include an apartment block on the corner of Ainslie Avenue and Cooyong Street, which residents and real estate professionals believe would lead to a boom in commercial investments in the area. Properties on offer are a mix of heritage-inspired residences and units in modern apartment buildings. The number of property visits in Reid exceeds that of the ACT in general, making it a high-demand market for home buyers and property investors.

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