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 16.03% for the past year.
Investors saw the median home price rise to $745,500.
Profits due to an upward trend in home prices in the suburb averaged 8.86% per annum over a 3-year period.
PALMERSTON now ranks at the 13th 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 $570 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 37.9 days.
In 2016, 42 properties were sold in PALMERSTON during the past year, making it the 38th most active market in ACT based on total real estate transactions.
PALMERSTON ranks 3rd 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 3.4% for the past year, which is higher than average compared to its 10.18% growth within a five-year period.
With the median home price in PALMERSTON sitting at $403,275, and the average rent at $420, property owners could potentially earn a 5.42% increase in gross rental yield.
Property investors have seen a 2.29% gain in PALMERSTON based on an increase 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 1.66% growth over a ten-year period. It ranks 1349th on our list of suburbs that property investors should look into.