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TURNER, 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 $1,826,250.
Profits due to an upward trend in home prices in the suburb averaged 11.76% per annum over a 3-year period.
Because of this real estate investors could earn a rental income of $750 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 TURNER, homes and units usually stay on listing for an average of 0.0 days.
In 2016, 12 properties were sold in TURNER during the past year, making it the 83rd most active market in ACT based on total real estate transactions.
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||4.42%|
|Median 3 years||35.28%||3.69%|
|Median 5 years||46.1%||11.68%|
|10 years average annual||6.22%||1.88%|
|Weekly media advert. rent||$750||$500|
|Time on Market||0.0 days||64.7 days|
|Gross Rental Yield Percent||2.14%||4.98%|