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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 ranks 15th in ACT when it comes to estimated capital gains experienced by property investors over the past three years.

TURNER, 2612 has a capital gain of 4.42% for the past year, which is higher than average compared to its 11.68% growth within a five-year period.

With the median home price in TURNER sitting at $522,100, and the average rent at $500, property owners could potentially earn a 4.98% increase in gross rental yield.

Property investors have seen a 3.39% 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 1.88% growth over a ten-year period. It ranks 1364th on our list of suburbs that property investors should look into.

Surburb overview

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.

Demographics

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.