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AREA REPORTS

Banks

Suburb Profile

Banks - FREE SUBURB PROFILE REPORT
POSTAL CODE: ACT,2906

house
unit

Property investors enjoyed capital gains of 4.33% 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 6.72% 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 $490 based on current median home prices for the suburb.

On average, rents on listings have reached the $490 mark, reflecting a 4.97% increase in returns based on the current median price in BANKS.

BANKS, 2906 ranks 36th in ACT in terms of median property value increase and capital gains, based on year-to-date figures.

While it ranks 2nd on the list of best yielding suburbs for rental properties in ACT, posting a 4.97% return.

Data report can be found below

KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $512,250 $435,000
GROWTH REPORT
Median Quarterly 1.74% -3.33%
Median 12 month 4.33% 4.32%
Median 3 years 6.72% 12.69%
Median 5 years 12.27% 16.94%
10 years average annual 1.82% 2.61%
Weekly media advert. rent $490 $460
Time on Market 58.0 days 100.6 days
Gross Rental Yield Percent 4.97% 5.5%
demographics (median values)
Total Population
4903
Weekly Household Income
1457
Household Size
2.90
demographics
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Age group
Top 10 Birth Countries
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Household Income
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