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Palmerston
AREA REPORTS

Palmerston

Palmerston - SUBURB PROFILE REPORT
POSTAL CODE: ACT, 2913

house
unit

PALMERSTON, 2913 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.

Average median house prices in ACT have risen as a whole, pulling PALMERSTON, 2913 values up and netting property investors a capital gain of 23.39% for the past year.

Investors saw the median home price rise to $768,750.

Profits due to an upward trend in home prices in the suburb averaged 4.18% per annum over a 3-year period.

PALMERSTON now ranks at the 75th place on a list of fastest growing suburbs in the territory.

Figures from the previous quarter show that capital gains for real estate buyers in PALMERSTON are low, as opposed to average gains per annum over the past five years.

Because of this real estate investors could earn a rental income of $530 based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In PALMERSTON, homes and units usually stay on listing for an average of 29.5 days.

In 2016, 44 properties were sold in PALMERSTON during the past year, making it the 51st most active market in ACT based on total real estate transactions.

Data report can be found below

Palmerston
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $768,750 $470,000
GROWTH REPORT
Median Quarterly 1.15% 0%
Median 12 month 23.39% 4.44%
Median 3 years 12.55% 20.51%
Median 5 years 38.51% 29.69%
10 years average annual 5.47% 1.86%
Weekly media advert. rent $530 $460
Time on Market 29.5 days 52.3 days
Gross Rental Yield Percent 3.59% 5.09%
demographics (median values)*
Total Population
35053
Weekly Household Income
2149
Household Size
2.80
Age
32
Monthly Loan Repayment
2037
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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