4 Things Borrowers Can Do With An Increase In Equity
Thanks to the property boom pushing up property prices Australia-wide, many property owners aren’t necessarily awar...
The suburb’s capital gain of 23.35% for the past year is higher than average compared to its 55.25% growth within a five-year period.
Also in PAGE, the median home price is sitting at $768,500, and the average rent at $545, this suggests property owners could potentially earn a 3.69% increase in gross rental yield.
Property investors have seen a 9.63% gain in PAGE based on an increase in median home prices for the past three months.
They believe that homeowners and real estate investors betting on PAGE, 2614 can rest assured about this ACT suburb's performance. The suburb saw median home prices rise by 23.35%.
A survey of average capital gains or median home price increase in suburbs across the country shows that this suburb obtained a 5.37% growth over a ten-year period. It ranks 1887th on our list of suburbs that property investors should look into.
Page is a suburb belonging to the district of Belconnen in Canberra, ACT. The suburb was gazetted in 1968 and was named in honour of Australian politician Earle Christmas Grafton Page, who served as interim Prime Minister of Australia following the death of Joseph Lyons.
Page is located north of Belconnen Way, abutting the suburbs of Weetangera, Scullin, Belconnen and Florey. It is bounded by Southern Cross Drive to its north, Coulter Drive to its east, Chewings Street to its west and Belconnen Way to its south.
Affordable real estate
Suburbs in the Belconnen district are well positioned due to their proximity to the city centre. In a survey of Canberra suburbs within 10 kilometres from the capital, Page had triumphed over other suburbs in terms of housing affordability, with home loan rates at an all-time low. Average home prices in the suburb have since climbed by no less than 20 per cent over the past three to five years, but nevertheless remain one of the most ideal places for first home buyers on a tight budget.
Accommodations, such as the Ginninderra Gardens Hostel, are situated in the northern part of the suburb close to retirement villages. Page doesn’t have a shopping center that rivals that of more established suburbs, but it has a cluster of shops located along Dallachy Street to cater to residents. These shops include a plumber, a liquor store, a beauty salon and a restaurant. There’s the Westfield Belconnen next town, though, which is just a short drive away.
Page features recreational facilities, sporting venues, such as the Page Neighbourhood Oval, two churches (e.g. St. Matthew’s Catholic Church, Mosaic Baptist Church) and two early childhood learning institutions, the St. Matthew’s Primary School and Wombats Playschool.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||23.35%||-0.82%|
|Median 3 years||23.95%||2.04%|
|Median 5 years||55.25%||4.62%|
|10 years average annual||5.37%||1.36%|
|Weekly media advert. rent||$545||$450|
|Time on Market||0.0 days||0.0 days|
|Gross Rental Yield Percent||3.69%||5.51%|