Canberra Now Boasts A 7-figure Median House Price
With double-digit growth and the steepest price acceleration in almost three decades, Canberra continues to dominate the...
TURNER, 2612 has a capital gain of 6.2% for the past year, which is higher than average compared to its 5.43% growth within a five-year period.
With the median home price in TURNER sitting at $505,000, and the average rent at $485, property owners could potentially earn a 4.99% increase in gross rental yield.
Property investors have seen a 3.06% gain in TURNER based on an increase in median home prices for the past three months.
A survey of average capital gains or median home price increase in suburbs across the country shows that TURNER, 2612 obtained a 0.65% growth over a ten-year period. It ranks 1434th on our list of suburbs that property investors should look into.
Turner is a suburb situated on the north-west of Civic and bounded by Barry Drive, David Street, and Northbourne Avenue. Gazetted in 1928, the suburb was named after Australian politician George Turner, who was one of the founders of the constitution. The suburb's street names were taken after writers, pioneers and politicians.
Turner was one of the first Canberran suburbs that had implemented the garden city design. This meant that power lines were concealed at the back of houses to keep streetscapes uncluttered. Streetlamps were lower in height and estates featured service lanes.
Turner's population numbers 4,000, with a median age of 31 years, based on latest census data. The majority of its residents were originally from Australia, while the rest were born in China, England, India, Vietnam and New Zealand.
Portfolio of properties in Turner
Compared with other suburbs close to the city centre, Turner’s real estate market is still one of the most affordable in Canberra. Among new developments is a luxurious apartment block along Forbes with beautiful views of the Brindabella Range and Civic.
Turner has a slightly higher than usual rate of unoccupied properties, at 11 per cent. A huge chunk of Turner's housing stock consists of rental properties, while owned properties are just over 30 per cent.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||N/A||6.2%|
|Median 3 years||N/A||4.12%|
|Median 5 years||N/A||5.43%|
|10 years average annual||N/A||0.65%|
|Weekly media advert. rent||N/A||$485|
|Time on Market||N/A||79.5 days|
|Gross Rental Yield Percent||N/A||4.99%|