Canberra Now Boasts A 7-figure Median House Price
With double-digit growth and the steepest price acceleration in almost three decades, Canberra continues to dominate the...
Based on its average 5-year and quarterly capital gains FADDEN, 2904 saw average growth in the long term.
A survey of average capital gains or median home price increase in suburbs across the country shows that FADDEN, 2904 obtained a 3.52% growth over a ten-year period. It ranks 2473rd on our list of suburbs that property investors should look into.
FADDEN, 2904 in ACT belongs to the local government area of Unincorporated ACT.
FADDEN, 2904 has a capital gain of 11.88% for the past year, which is higher than average compared to its 38.76% growth within a five-year period.
With the median home price in FADDEN sitting at $895,000, and the average rent at $650, property owners could potentially earn a 3.78% increase in gross rental yield.
Figures from the previous quarter show that capital gains for real estate buyers in FADDEN are low, as opposed to average gains per annum over the past five years.
A 11.88% increase in median property prices in FADDEN, 2904 has allowed this suburb to join the ranks of best performing suburbs in ACT, settling at number 37th.
Fadden is a suburb in the district of Tuggeranong in Canberra, ACT. The suburb is surrounded by parklands and the slopes of Mount Wanniassa and the Wanniassa Hills Nature Reserve. It is bordered by the suburbs of Gowrie, Chisholm, Macarthur, and Wanniassa.
Fadden’s namesake is Arthur Fadden, Australia’s interim prime minister. The suburb’s streets were named in honour of Australian politicians, such as Edward Hanlon, Frank Partridge, and Frederick Courtice.
Fadden’s population numbers 2,949, and consists of 867 families. These inhabitants occupy 1,100 private dwellings in the suburb. Some 76 per cent of the residents in Fadden were Australia-born, with a small group born in England, China, New Zealand, South Africa and India.
Real estate performance
The median home price in Fadden is slightly higher than most Canberra suburbs at $715,000. This number reflects the price growth undergone by houses for sale in the suburb – property prices have jumped by a whopping 25 per cent in the last five years.
Taking advantage of the rosy property market in Fadden is easy as it is considered a low-risk postcode by most banks and major lenders. Interested buyers can finance their properties through a home loan, which they can apply for through banks and mortgage specialists in the area.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||11.88%||N/A|
|Median 3 years||19.33%||N/A|
|Median 5 years||38.76%||N/A|
|10 years average annual||3.52%||N/A|
|Weekly media advert. rent||$650||N/A|
|Time on Market||85.7 days||N/A|
|Gross Rental Yield Percent||3.78%||N/A|