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The suburb’s capital gain of 8.62% for the past year is higher than average compared to its 28.57% growth within a five-year period.
Also in CALWELL, the median home price is sitting at $630,000, and the average rent at $540, this suggests property owners could potentially earn a 4.46% increase in gross rental yield.
Property investors have seen a 5.7% gain in CALWELL based on an increase in median home prices for the past three months.
A survey of average capital gains or median home price increase in suburbs across the country shows that this suburb obtained a 3.3% growth over a ten-year period. It ranks 2432nd on our list of suburbs that property investors should look into.
Calwell is a suburb in Tuggeranong, bounded by Johnson Drive, Tharwa Drive, and Drakeford Drive. Gazetted in 1975, the suburb was named after Arthur Calwell, a Parliament member who was a leader of the opposition during the 1960s. The suburb’s street names were in honour of Australian politicians. The postcode of Calwell is 2905.
One may easily think that Calwell is a countryside destination by the looks of the homes in the suburb. Some estates feature brick bungalows with an intricately carved veranda, while larger properties set on elevated localities evoke the feel of a vacation property.
The suburb could very well be country for some – situated at the foot of the Tuggeranong Hill Nature Reserve, mountain ranges loom constantly in the horizons from any point. Residents also adore the well-maintained front lawns and gardens of different estates, as well as the wide roads.
Home buyers are drawn to Calwell for its good-natured community and key facilities, such as local schools, churches, an early childcare centre, and healthcare providers. Sporting venues abound in the suburb, including several playgrounds and playing fields, and an aquatic centre. There’s also no dearth of retail shops in Calwell, which include a supermarket, a butcher, a bakery, and cafe. As for Calwell accommodations, most of the spaces for short- or long-term rent are rooms in picture-perfect mansions or large properties, or guesthouses.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||8.62%||4.27%|
|Median 3 years||15.33%||22.84%|
|Median 5 years||28.57%||20.42%|
|10 years average annual||3.3%||1.07%|
|Weekly media advert. rent||$540||$440|
|Time on Market||43.9 days||41.0 days|
|Gross Rental Yield Percent||4.46%||5.35%|