Property investors enjoyed capital gains of 18.09% 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 high, as opposed to average gains per annum over the past five years.
The suburb posted a 21.5% 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 $495 based on current median home prices for the suburb.
On average, rents on listings have reached the $495 mark, reflecting a 4.09% increase in returns based on the current median price in BANKS.
BANKS, 2906 ranks 5th in ACT in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 32nd on the list of best yielding suburbs for rental properties in ACT, posting a 4.09% return.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||18.09%||3.95%|
|Median 3 years||21.5%||7.37%|
|Median 5 years||31.25%||5.56%|
|10 years average annual||4.38%||2.88%|
|Weekly media advert. rent||$495||$425|
|Time on Market||69.9 days||49.4 days|
|Gross Rental Yield Percent||4.09%||5.42%|