The case for Canberra’s office market
No longer just a public service bubble, Canberra has seen an increase in private sector activity in recent years, bringing with it a raft of...
MCKELLAR, 2617 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in ACT have risen as a whole, pulling MCKELLAR, 2617 values up and netting property investors a capital gain of 1.62% for the past year.
Investors saw the median home price rise to $782,500.
Profits due to an upward trend in home prices in the suburb averaged 7.23% per annum over a 3-year period.
MCKELLAR now ranks at the 23rd place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in MCKELLAR are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $595 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In MCKELLAR, homes and units usually stay on listing for an average of 57.1 days.
In 2016, 24 properties were sold in MCKELLAR during the past year, making it the 73rd most active market in ACT based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $782,500 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 1.62% | N/A |
| Median 12 month | 1.62% | N/A |
| Median 3 years | 21.7% | N/A |
| Median 5 years | 28.28% | N/A |
| 10 years average annual | 5.34% | N/A |
| Weekly media advert. rent | $595 | N/A |
| Time on Market | 57.1 days | N/A |
| Gross Rental Yield Percent | 3.95% | N/A |
No longer just a public service bubble, Canberra has seen an increase in private sector activity in recent years, bringing with it a raft of...
New and improved community facilities will soon be available in a number of Melbourne and surrounds’ fastest growing suburbs. ...
Nearly three decades of negotiation has finally seen the transferal of 66 hectares of land for a new coastal community in the outer suburbs ...
A new ratings system to determine “risky players” in the building industry is set to be implemented across NSW in an effort to help pre...
There’s a false belief held by many Australians that the larger the city they choose to invest in, the better their return on that investm...
Long gone are the days where home owners would take out a loan and stick with their lender for life. ...
Get notifications in real-time for staying up to date with content that matters to you.