Theodore

POSTAL CODE: ACT, 2905

HOUSE

UNIT

A steady increase in median property prices over a five-year period in the suburb translates to a 5.4% capital gain.

It also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $888,000

The augmented property values in the suburb are trailing above the territorial average of 0.81% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $650.

Home owners selling their properties and realtors in THEODORE usually have to wait an average of 29.9 days days before their assets are lifted off the market.

The ACT suburb ranks 31st on the list of best yielding suburbs for rental properties in ACT, posting a 3.81% return.

It also places places 49th in Australia based on median property value growth during the quarter.

Property investors enjoyed capital gains of 9.09% over the last 12 months in THEODORE, translating to lower returns compared with its peers in ACT.

A survey of average capital gains or median home price increase in suburbs across the country shows that THEODORE, 2905 obtained a 5.94% growth over a ten-year period. It ranks 736th on our list of suburbs that property investors should look into.

THEODORE, 2905 has a capital gain of 9.09% for the past year, which is higher than average compared to its 0% growth within a five-year period.

With the median home price in THEODORE sitting at $630,000, and the average rent at N/A, property owners could potentially earn a N/A increase in gross rental yield.

Figures from the previous quarter show that capital gains for real estate buyers in THEODORE are high, as opposed to average gains per annum over the past five years.

THEODORE, 2905 in ACT belongs to the local government area of Unincorporated ACT.

Surburb overview

Theodore is a suburb in the Tuggeranong district of Canberra, bordered by the mountainous landscapes of the Tuggeranong Hill Nature Reserve and bounded by the arterial roads of Monaro Highway and Tharwa Drive. Theodore was gazetted on 5 August 1975, on the same date as other suburbs in the district.

The suburb’s namesake is Edward Granville Theodore, who served as a premier of Queensland and was a member of the Parliament. Streets in the suburb were named in honour of civilians who were involved in the war effort during both world wars.

Population

Theodore's population is composed of 3,799 residents, with a median age of 33. Out of this number, 1,045 are families. Households are comprised of 2.8 people on average. Each household has a median weekly income of $2,123.

Real estate growth

Demand for properties in Theodore is high, with property tours for the entire suburb’s portfolio averaging at 282 — the state average is at 293. Currently, the average mortgage repayment is standing at $2,045, which is still considered relatively affordable as far as home loans go.

Prices are rising fast, however, and home buyers should strike while the iron is hot. In the past 12 months alone, home prices have increased by 21.28 per cent to $570,000 based on the latest property data.

Apartments are lagging behind in terms of price growth but on an upward trend, nonetheless. Rents are a different story, however, as yield is greater for apartments for rent than homes. The median weekly rent for detached properties is $370.

You’re out of free articles for this month

Username or Email

Password Forgot password?

Keep me signed in on this device.

First Name

Last Name

Mobile

Organisation Type

By becoming a member, I agree to receive information and promotional messages from Smart Property Investment. I can opt out of these communications at any time. For more information, please visit our Privacy Statement.

Need help signing up? Visit the Help Centre.

Loading form...