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Property investors enjoyed capital gains of 2.79% over the last 12 months in GIRALANG, translating to lower returns compared with its peers in ACT.
A survey of average capital gains or median home price increase in suburbs across the country shows that the ACT suburb obtained a 4.14% growth over a ten-year period. It ranks 2176th on our list of suburbs that property investors should look into.
GIRALANG, 2617 has a capital gain of 2.79% for the past year, which is lower than average compared to its 32% growth within a five-year period.
With the median home price in GIRALANG sitting at $726,750, and the average rent at $545, property owners could potentially earn a 3.9% increase in gross rental yield.
A 2.79% increase in median property prices in GIRALANG, 2617 has allowed this suburb to join the ranks of best performing suburbs in ACT, settling at number 73rd.
Figures from the previous quarter show that capital gains for real estate buyers in GIRALANG are low, as opposed to average gains per annum over the past five years.
GIRALANG, 2617 in ACT belongs to the local government area of Unincorporated ACT.
Giralang is a suburb in the District of Belconnen in Canberra, Australian Capital Territory. Gazetted in 1974, its name was inspired by the Wiradjuri people. The suburb’s street name theme focuses on the Aboriginal words for celestial objects in the southern hemisphere as well as renowned astronomers.
Giralang is known among motorists as a drive-by suburb, especially those living in the more activity-filled suburbs of Belconnen. Its streetscapes feature estates with wide-enough streets and well-tended lawns. Interacting with one’s neighbours in Giralang seemed to be encouraged by the estates’ layout with closely spaced homes and shared walking tracks. New estates in Giralang are being built around parklands and playing fields, in a nod to the suburb’s reputation as a family-friendly and community-centric environment.
Amenities in Giralang
Giralang has a primary school but no secondary schools or colleges. There’s also a primary school for Jewish children (Jewish institutions are prevalent in the suburb). Despite the seeming lack of academic providers in the area, Giralang is conveniently located within a few minutes’ drive from Kaleen, Melba and Macquarie where there are several high schools. The suburb is also a short drive away from the lifestyle precincts of Belconnen.
Realtors and industry watchdogs recommend Giralang as an affordable option for home buyers to enter the Canberra property market. The median home price in Giralang is $600,000, up by 7 per cent in the past 12 months and some 15 per cent over the past five years. Gross rental yield over the last year has increased by 4 per cent, based on the latest property data.
Home buyers who are interested to take out a home loan in Giralang can seek the assistance of mortgage broker specialists in the suburb. Property investors have over 50 lenders to choose from in the area.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||2.79%||N/A|
|Median 3 years||13.78%||N/A|
|Median 5 years||32%||N/A|
|10 years average annual||4.14%||N/A|
|Weekly media advert. rent||$545||N/A|
|Time on Market||51.4 days||N/A|
|Gross Rental Yield Percent||3.9%||N/A|