Stability paving the way for property market gains
The housing market’s continual strength cannot be discounted despite the national property market’s recent dive to its largest value lo...
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 $717,000.
The upward trend in home prices in GUNGAHLIN, 2912 averaged 5.22% per annum over a 3-year period.
Average weekly rents on listings have reached the $560 mark, reflecting a 4.06% increase in returns based on the current median price in GUNGAHLIN.
An average of 5.25 real estate transactions take place per month in GUNGAHLIN which translates to 63 per annum.
63 properties were sold in GUNGAHLIN in 2016, making it the 21st most active market in ACT based on total real estate transactions.
GUNGAHLIN, 2912 places 72nd in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $717,000 | $369,950 |
| GROWTH REPORT | ||
| Median Quarterly | -2.25% | 9.53% |
| Median 12 month | -1.1% | -0.14% |
| Median 3 years | 15.65% | 13.83% |
| Median 5 years | 30.6% | 6.86% |
| 10 years average annual | 4.34% | 1.39% |
| Weekly media advert. rent | $560 | $420 |
| Time on Market | 58.6 days | 79.1 days |
| Gross Rental Yield Percent | 4.06% | 5.9% |
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