Giving property investors a an unimpressive capital gain of -3.68% for the last year, Cook, 2614 is the 3345th highest performer in Australia in this respect.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Cook has increased when compared to the 5 year average annual rate.
On average over the past year, suburb has had 1.83 sales per month, which equates to 22 per year.
A $450 per week rent on the median house gives suburb investors a gross yield of circa 3.44%, without taking into account capital value appreciation, which has been averaging out at 4.65%.
ACT has seen average median house prices change by -0.94% which means that Cook, 2614 has not done well for property investors by showing a capital gain of 12.38% over the last year
While Cook,2614 ranked number 10th in ACT for increase in median house value (annualised) increase, it is ranked 8th over the last 5 years.
Renters in Suburb are facing rents around $4800 per annum or $400 every week.
Located only 6km from the Canberra CBD, Cook’s proximity to the city has resulted in the suburb’s median house price rising to as high as it has ever been.Full summary
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Located only 6km from the Canberra CBD, Cook’s proximity to the city has resulted in the suburb’s median house price rising to as high as it has ever been.Close
Cook has seen 14.1% growth in its house market, and the vacancy rate hovers at a reasonable 1.2%. Investors will also be attracted to the high rental yield for units, which was 4.7% in the previous quarter.
Despite being close to what Canberra has to offer, the suburb itself is not short of amenities.
The local shopping centre has a supermarket, a cafe and restaurants.
There’s also a preschool and a school park.
Commuters can take a bus to Canberra from the stop at the Templeton St Cook Shops, so, unsurprisingly, the suburb is favoured by young adults working in the city