Property Market Update: Perth, May 2022
Perth continued to outperform its bigger capital counterparts in May, as the city closed up the autumn season with a sol...
Property investors have seen a 7.26% gain in CHARNWOOD based on an increase in median home prices for the past three months.
Homeowners and real estate investors betting on CHARNWOOD, 2615 can rest assured about this ACT suburb's performance. The suburb saw median home prices rise by 31.1%.
Based on its average 5-year and quarterly capital gains CHARNWOOD, 2615 saw average growth in the long term.
The ACT 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 $665,000
Profits averaged 14.59% per annum over a 3-year period, due to an upward trend in home prices in CHARNWOOD, 2615.
This means, real estate investors could earn a rental income of $530 based on current median home prices for the suburb.
The gross rental yield in CHARNWOOD, 2615 is 4.14%.
An average of 6.33 real estate transactions take place per month in CHARNWOOD which translates to 76 per annum.
Charnwood is a suburb in the district of Belconnen in Canberra, ACT. The suburb was gazetted in 1971 and was named after the Charnwood forest in England. Charnwood rests at the site of a former homestead owned by Henry Hall, a pioneer of Canberra and the first landowner in Ginninderra. The suburb’s theme was inspired by NSW pioneers who held positions in private and public offices in the state or were respected members of their community.
Charnwood back then was a heavily rural vicinity. Hall bred herds of sheep, cattle, cow, goats, donkeys, hounds and horses at Charnwood numbering between 3,000 and 4,000. He also raised a wide array of trees and vegetables on his property.
Real estate buyers are flocking to Charnwood because of its affordable properties, family-friendly atmosphere and culturally diverse community. Property buyers also prefer Charnwood due to its proximity to their workplace.
Homes in Charnwood are predominantly properties on larger blocks whose prices are within the reach of first home buyers. The average house sale price in Charnwood is around $400,000, and some cost even lower than this benchmark. In terms of growth rate, the median home price in the suburb is up by over 10 per cent in the past five years.
Charnwood was modelled after the Radburn design, where the front yards of homes face that of their neighbours and the backyards face the streets. In terms of amenities, Charnwood has a shopping corridor where residents can buy their necessities. The centre houses a fast food joint, the office of the Canberra Labor Club, a Shell filling station and a Woolworths.
Charnwood is a safe neighbourhood serviced by the Minister for Police and Emergency Services. The suburb is also home to a number of primary schools. Charnwood’s infrastructure is seeing some improvements with a roundabout added to the intersection located at Lhotsky Street and Charnwood Place.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||31.1%||N/A|
|Median 3 years||43.78%||N/A|
|Median 5 years||61.21%||N/A|
|10 years average annual||6.07%||N/A|
|Weekly media advert. rent||$530||N/A|
|Time on Market||35.0 days||N/A|
|Gross Rental Yield Percent||4.14%||N/A|