What Will It Take For The Bank To Lift The Rates – And How Will It Impact Property Investors?
The stronger than expected recovery outlined in Tuesday’s budget now has leading commenters expecting the RBA could li...
A steady increase in median property prices over a five-year period in the suburb translates to a -3.23% capital gain.
Property investors in KINGSTON enjoyed capital gains of 3% over the last 12 months translating to lower returns compared with its peers in the territory.
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 $300,000.
Profits due to an downward trend in home prices there averaged -1.08% per annum over a 3-year period.
Home owners selling their properties and realtors in KINGSTON usually have to wait an average of 77.3 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $330 mark, reflecting a 5.72% increase in returns based on the current median price in KINGSTON.
KINGSTON, 4114 places 423rd in Australia based on median property value growth during the quarter.
Kingston is a centrally located suburb in Canberra, Australian Capital Territory. It is among the suburbs bordered by the State Circle and located within 4 kilometres of the heart of the city. The suburb was named in honour of former premier of South Australia Charles Cameron Kingston, who also served as a minister in the first Australian Commonwealth Government.
Around the time of its establishment, Kingston was home to lower-ranking civil servants and labourers for Canberra’s early infrastructure works. It has since evolved into a sought-after precinct, famous for its nightlife and burgeoning arts scene. As one of Canberra’s oldest towns, Kingston has a rich history and culture, which makes it one of the Australia’s top heritage destinations. It also has a foreshore offering a serene view of Lake Burley Griffin.
Developments are centred around bustling lifestyle corners, such as the Kingston Kingsborough, which comprise of shophouses and residential units. The Kingston foreshore, in particular, is one of the best areas for interstate property investments and relocating real estate buyers who are downsizing from their home in abutting suburbs. Residents are spoilt for choice as the precinct features a number of restaurants and coffee spots.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||3%||N/A|
|Median 3 years||-3.23%||N/A|
|Median 5 years||1.69%||N/A|
|10 years average annual||0.9%||N/A|
|Weekly media advert. rent||$330||N/A|
|Time on Market||77.3 days||N/A|
|Gross Rental Yield Percent||5.72%||N/A|