Property investors enjoyed capital gains of 11.61% over the last 12 months in BANKS, translating to lower returns compared with its peers in ACT.
Figures from the previous quarter show that capital gains for real estate buyers in BANKS are low, as opposed to average gains per annum over the past five years.
The suburb posted a 20.39% growth in median prices over a three-year period. This is considerably lower than the gains it recorded over the past year.
This number can mean, real estate investors could earn a rental income of $530 based on current median home prices for the suburb.
On average, rents on listings have reached the $530 mark, reflecting a 4.45% increase in returns based on the current median price in BANKS.
BANKS, 2906 ranks 13th in ACT in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 19th on the list of best yielding suburbs for rental properties in ACT, posting a 4.45% return.
Property investors have seen a 2.53% gain in BANKS based on an increase in median home prices for the past three months.
Homeowners and real estate investors betting on BANKS, 2906 can rest assured about this ACT suburb's performance. The suburb saw median home prices rise by 10.56%.
Based on its average 5-year and quarterly capital gains BANKS, 2906 saw average growth in the long term.
BANKS, 2906 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 $445,000.
Profits due to an upward trend in home prices in BANKS, 2906 averaged 6.17% per annum over a 3-year period.
This number can mean, real estate investors could earn a rental income of $440 based on current median home prices for the suburb.
The gross rental yield in BANKS, 2906 is 5.14%.
An average of 3.92 real estate transactions take place per month in BANKS which translates to 47 per annum.
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