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Top 5 Suburbs for rental growth in Canberra - 777 Homes

Top 5 Suburbs for rental growth in Canberra

Leading real estate agents in Canberra have confirmed that each suburb here has certain desirable qualities. Therefore, different suburbs stand out in a solid real estate market.

However, each area offers convenience and luxury lifestyle.

HSBC study of Wealthy Asian Investors states that Canberra attracts big players in real estate investment by 34%. This investment % is well ahead of NSW (20%), QLD(29%), and VIC(25%).

Check the list of a few popular suburbs in Canberra. These suburbs are the best investment destinations for 2021.

777 Homes provide an insight into the Canberra suburbs

1) Deakin

According the Domain Rent report, Deakin has recorded the strongest hike in the median-asking-rent. The increase of 24.9% over the years to $1000 per week has been recorded. 

Do you know Deakin is the most expensive suburb to rent a house? So, is time to invest. Hurry up!!

2) Ainslie

Ainslie has been a reliable performer in rental property market.

What more? Enjoy fantastic city views here. Moreover, bush reserves are great picnic spots for family time in this suburb.

Also, you can walk up to the Russell and Barton’s city and employment hub from here.

Moreover, the wide streets, vibrant village shops and cafés makes life comfortable.

3) Turner

Turner is a strong performer in rental market.

Why?

Because it is a closest established suburbs to the CBD. As a result, many new boutique apartments and townhomes projects keep coming up.

Also, the Australian National University (ANU) is close to Turner.

ANU is popular among:-

  • Students
  • Academics
  • CBD executives

Turner is mainly popular for low rates of long-term vacancy on properties. Additionally, here high reliable capital growth prospects is good signs for investors.

4) Crace/ Franklin

Franklin new neighboring suburb is trendy amongst the families. This is becasue amentites like new housing projects, sports facilities, cafés, schools, landscaped parks, etc are within easy reach.

As per the Housing Industry Association, Crace is fastest-growing housing market in Australia. This report is based on value of new homes approvals and the population growth in the area.

After renting for a few years, a lot of  Asian and Indians home owner-occupiers are purchasing the property to rent it themselves.

Franklin being a flat, easily accessible, well-planned suburb. As a result, it attract investors. 

Franklin homes have recorded a compound growth rate of 5.4% in the past 5 years. Further, you may earn an annual rental yield of 4.2% here. 

5) Jerrabomberra

Post Covid, WFH is the next normal. As a result, lot of time needs to be spent at home. Hence, people look for spacious properties.

Jerrabomberra offers good value for money. Do you know, the median house prices start here at $843,500. Additionally, the average rent here is $687.5.

Own a house here. And, you can earn a 3.97% increase in gross rental yield on home investment here.

Summing up 

Canberra’s suburbs have backed the cultural trend. Consequently, low mortage interest rate and low impact on unemployment has resulted in home demand increase in suburbs here.

777 Homes provide an insight into the Canberra suburbs. These have witnessed lead rental income growth on a flourishing property market.