COVID-19 pandemic may create a ‘two-speed rental market’
The COVID-19 pandemic may be leading to a “two-speed rental market”, with suburbs closer to the city likely to experience greater rental...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $750,000.
The upward trend in home prices in GUNGAHLIN, 2912 averaged 2.64% per annum over a 3-year period.
Average weekly rents on listings have reached the $580 mark, reflecting a 4.02% increase in returns based on the current median price in GUNGAHLIN.
An average of 4 real estate transactions take place per month in GUNGAHLIN which translates to 48 per annum.
48 properties were sold in GUNGAHLIN in 2016, making it the 33rd most active market in ACT based on total real estate transactions.
GUNGAHLIN, 2912 places 64th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $750,000 | $375,000 |
| GROWTH REPORT | ||
| Median Quarterly | -1.32% | -2.91% |
| Median 12 month | 4.02% | -1.95% |
| Median 3 years | 7.91% | 9.01% |
| Median 5 years | 31% | 17.19% |
| 10 years average annual | 3.92% | 2.38% |
| Weekly media advert. rent | $580 | $440 |
| Time on Market | 79.8 days | 103.9 days |
| Gross Rental Yield Percent | 4.02% | 6.1% |
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