Demand For Homes Stays High In 1 State While The Rest Fall Back
Rising interest rates have eased demand from potential buyers, which has been reflected in the slowing of home price gro...
Property investments in MONASH fare well against the rest of the country last year, registering a median home price increase of 27.55%.
Figures from the previous quarter show that capital gains for real estate buyers in the territory are low, as opposed to average gains per annum over the past five years.
Based on its average 5-year and quarterly capital gains MONASH, 2904 saw average growth in the long term.
Real estate investors could earn a rental income of $590 based on current median home prices for the suburb.
It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 46.8 days.
Besides that, the Australian suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Property investors perceived the median home price rise to $875,000.
MONASH ranks 45th on the list of best yielding suburbs for rental properties in ACT, posting a 3.51% return.
Monash is a suburb in the Tuggeranong district of Canberra, ACT. The suburb is bordered by the arterial roads of Erindale Drive, Drakeford Drive, Isabella Drive and Ashley Drive. Its namesake was Sir John Monash, a civil engineer and World War I commander. Monash is located an hour away from Canberra through public transport, and 17 minutes by private car.
Monash has a slightly older population than any other states in Canberra, which is the reason it is known as a retirement destination. The median age of the population in Monash is between 40 and 59 years. More than 50 per cent of the population are family units. Majority of the population work in public sector and safety, while the rest work in the health care, social work and retail segments.
Real estate milieu
Monash is considered by residents as one of the best postcodes in the ACT to buy a home due to its family-friendly atmosphere and facilities, including a primary school and community oval. Shopping centres, such as the Erindale Shopping Centre and the Tuggeranong Hyperdome, are just a short drive away. Monash also has abundant open areas for walking and cycling and is home to the Isabella Pond and the Tuggeranong Creek.
As for its housing portfolio, Monash offers a mix of standalone residential properties with four or more bedrooms, as well as three-bedroom townhouses. Recent property sales in Monash involve the sale of well-maintained bungalows with spacious patios and backyards, and decent-sized apartment units. Hillside properties overlooking other estates and those with pools go on offer from time to time.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||27.55%||31.68%|
|Median 3 years||43.44%||44.57%|
|Median 5 years||62.79%||54.65%|
|10 years average annual||6.22%||4.6%|
|Weekly media advert. rent||$590||N/A|
|Time on Market||46.8 days||0.0 days|
|Gross Rental Yield Percent||3.51%||N/A|