The case for Canberra’s office market
No longer just a public service bubble, Canberra has seen an increase in private sector activity in recent years, bringing with it a raft of...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also 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 $460,000.
The upward trend in home prices in HARRINGTON, 2427 averaged 1.83% per annum over a 3-year period.
Average weekly rents on listings have reached the $440 mark, reflecting a 4.97% increase in returns based on the current median price in HARRINGTON.
An average of 6.5 real estate transactions take place per month in HARRINGTON which translates to 78 per annum.
78 properties were sold in HARRINGTON in 2016, making it the 110th most active market in NSW based on total real estate transactions.
HARRINGTON, 2427 places 944th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $460,000 | $430,000 |
| GROWTH REPORT | ||
| Median Quarterly | -3.16% | 10.97% |
| Median 12 month | -15.9% | 38.71% |
| Median 3 years | 5.5% | 34.38% |
| Median 5 years | 22.1% | 61.5% |
| 10 years average annual | 4.23% | 6.5% |
| Weekly media advert. rent | $440 | $290 |
| Time on Market | 97.8 days | 101.1 days |
| Gross Rental Yield Percent | 4.97% | 3.51% |
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