Mckellar

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 6.94% for the past year.

Investors saw the median home price rise to $762,500.

Profits due to an upward trend in home prices in the suburb averaged 6.66% per annum over a 3-year period.

MCKELLAR now ranks at the 67th 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 55.0 days.

In 2016, 26 properties were sold in MCKELLAR during the past year, making it the 74th most active market in ACT based on total real estate transactions.