Industry Sets Expectations For Albanese Government
Now that the 2022 federal election has been decided, the industry is watching keenly to see how Labor’s housing promis...
Homeowners and real estate investors betting on SCULLIN, 2614 can rest assured about this ACT suburb's performance. The suburb saw median home prices rise by 29.03%.
A steady increase in median property prices over a five-year period in the suburb translates to a 37.93% capital gain.
Property investors in SCULLIN enjoyed capital gains of 29.03% over the last 12 months translating to lower returns compared with its peers in the territory.
The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $800,000.
Profits due to an upward trend in home prices there averaged 12.64% per annum over a 3-year period.
Home owners selling their properties and realtors in SCULLIN usually have to wait an average of 0.0 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $550 mark, reflecting a 3.58% increase in returns based on the current median price in SCULLIN.
SCULLIN, 2614 places 13th in Australia based on median property value growth during the quarter.
Scullin is a suburb in the district of Belconnen in Canberra, ACT. It is bounded by major arterial roads, namely Southern Cross Drive, Chewings Street, Belconnen Way, and Kingsford Smith Drive, and surrounded by the suburbs of Florey, Latham, Page, Hawker, and Higgins. Its namesake is James Henry Scullin, federal Labor Party leader and former Australian prime minister.
Scullin is known for its warm family vibe, with ample parklands for walking the dog, biking, picnics with the family, and leisurely strolls. Homes are nestled on generous parcel of lands, making the suburb prime real estate for families who are upgrading or plainly prefer homes with spacious front lawns and backyards.
Residents encourage interested homebuyers to take advantage of current market rates in Scullin as demand in the town has surpassed that of the entire capital. Those who live in the suburb prize its distance from the city and transportation hubs, without compromising its tranquil ambiance.
Scullin has its own set of shops where residents can buy their daily necessities. The Belconnen Town Centre is just a quick walk and drive away and so is the Hawker Shopping Centre in neighbouring suburbs. Scullin has a primary school, the Southern Cross Early Childhood Centre, while the nearest secondary school is in Hawker. The suburb also has a medical centre located at the Scullin Arcade.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||29.03%||N/A|
|Median 3 years||37.93%||59.53%|
|Median 5 years||63.6%||N/A|
|10 years average annual||6.41%||12.72%|
|Weekly media advert. rent||$550||$410|
|Time on Market||0.0 days||0.0 days|
|Gross Rental Yield Percent||3.58%||3.61%|