Palmerston

POSTAL CODE: ACT, 2913

HOUSE

UNIT

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

Investors saw the median home price rise to $930,000.

Profits due to an downward trend in home prices in the suburb averaged -1.78% per annum over a 3-year period.

PALMERSTON now ranks at the 77th 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 $672.5 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 48.6 days.

In 2016, 73 properties were sold in PALMERSTON during the past year, making it the 13th most active market in ACT based on total real estate transactions.

PALMERSTON ranks 34th in ACT when it comes to estimated capital gains experienced by property investors over the past three years.

PALMERSTON, 2913 has a capital gain of -4.31% for the past year, which is lower than average compared to its 35.42% growth within a five-year period.

With the median home price in PALMERSTON sitting at $650,000, and the average rent at $600, property owners could potentially earn a 4.8% increase in gross rental yield.

Property investors have seen a -0.12% drop in PALMERSTON based on a decrease in median home prices for the past three months.

A survey of average capital gains or median home price increase in suburbs across the country shows that PALMERSTON, 2913 obtained a 5.99% growth over a ten-year period. It ranks 764th on our list of suburbs that property investors should look into.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$930,000	$650,000
Growth Report
Median Quarterly	-3.43%	-0.12%
Median 12 month	-2.36%	-4.31%
Median 3 years	-5.34%	1.56%
Median 5 years	17.72%	35.42%
10 years average annual	6.93%	5.99%
Weekly media advert. rent	$673	$600
Time on Market	48.6 days	37.8 days
Gross Rental Yield Percent	3.76%	4.8%

Demographics (Median Values)*

Total Population 35053

Weekly Household Income 2149

Household Size 2.80

Average 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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