Property Market Update: Brisbane, August 2021
Brisbane property prices went against the grain in August, delivering steady gains as its bigger capital city peers face...
Homeowners and real estate investors betting on HIGGINS, 2615 can rest assured about this ACT suburb's performance. The suburb saw median home prices rise by 12.35%.
A steady increase in median property prices over a five-year period in the suburb translates to a 21% capital gain.
Property investors in HIGGINS enjoyed capital gains of 12.35% 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 $668,500.
Profits due to an upward trend in home prices there averaged 7% per annum over a 3-year period.
Home owners selling their properties and realtors in HIGGINS usually have to wait an average of 41.0 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $545 mark, reflecting a 4.24% increase in returns based on the current median price in HIGGINS.
HIGGINS, 2615 places 49th in Australia based on median property value growth during the quarter.
Higgins is a quiet suburb situated in the Belconnen District of Canberra, Australian Capital Territory. The suburb is bordered by the suburbs of Holt, Latham, Scullin and Hawker. It is bounded by the arterial roads of MacNaughton Street, Starke Street, Drake Brockman Drive, Southern Cross Drive and Kingsford Smith Drive.
The suburb’s namesake was Henry Higgins, an Australian judge and politician who introduced the idea of setting a basic wage for workers into society. Street names were inspired by the surname of respected judges across Australia who had made their mark on the Australian legislative system.
Higgins used to have two state-run schools, although they are now closed. Residents who have children going to school can depend on academic institutions based in Florey, such as the St. John Apostle Primary School, the Florey Primary School and St. Francis Xavier College. Neighbouring Scullin has the Southern Cross Early Childhood School, while parents can opt to enrol children with special needs at Cranleigh School in Holt.
Higgins has a church, the Emmanuel Independent Baptist Church, which stands beside the suburb’s community centre. The centre houses a pharmacy, a salon, a photography studio and a news agency. Transportation is effective in Higgins with numerous bus stopovers scattered across its estates. As for leisure areas, Higgins has a neighbourhood oval that’s perfect for a morning jog, playing ball or walking your dog.
Higgins’ red-hot property market saw visits per property almost double during the past year, surpassing the state average. The median home price has soared by an estimated 18 per cent over the past five years, settling at $530,000. Gross rental yield for properties increased by nearly 5 per cent in the last 12 months.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||12.35%||N/A|
|Median 3 years||21%||N/A|
|Median 5 years||41.33%||N/A|
|10 years average annual||4.76%||N/A|
|Weekly media advert. rent||$545||N/A|
|Time on Market||41.0 days||N/A|
|Gross Rental Yield Percent||4.24%||N/A|