Suburb Profile Report for Spence ACT (2615)

Spence House: Median price $530,000, Annual capital growth 4.41%, Number of sales 26, Weekly median advertised rent $450

Spence Unit: Median price $391,400, Annual capital growth N/A, Number of sales 11, Weekly median advertised rent N/A

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report

Investment property in Spence has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 0.38%

If we look at median property appreciation over just the last three months, Spence has given property investors a paper return of -1.40%. This puts Suburb as 68 on a list of fastest fasting appreciating suburbs in ACT

State is the 8th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.46% offered to property buyers. Sellers in Spence itself are offering an average vendor discount of -1.75% to real estate investors.

Spence, 2615’s gross rental yield is 4.42%

In the last year 11 properties changed hands in Spence, which puts it as the 68th most active market in ACT when comparing the number of sales per suburb.

HOUSE UNIT
$530,000 $391,400
-1.40% N/A
0.38% N/A
4.41% N/A
$450 N/A
26 11
4.42% N/A
52.15 N/A

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 2559
Median household income ($/weekly) 1849
Median age of persons 36
Median housing loan repayment ($/monthly) 2102
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 354 13.8
    25-34 years 353 13.8
    35-44 years 359 14.0
    45-54 years 307 12.0
    55-64 years 394 15.4
    Others 792 30.9
    Age Group
    Census Count Percent(%)
    Registered Married 998 53.5
    Not Married 693 37.1
    Defacto Relationship 176 9.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 2017 81.9
    Greece 19 0.8
    Papua New Guinea 17 0.7
    United Kingdom 137 5.6
    Other 88 3.6
    Others 184 7.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 18 0.8
    Christianity 1594 67.3
    Islam 13 0.5
    Judaism 6 0.3
    No Religion 729 30.8
    Others 9 0.4
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 109 13.5
    $2,000-$2,499 91 11.3
    $2,500-$2,999 93 11.6
    $3,000-$3,499 79 9.8
    $4,000 or more 69 8.6
    Others 364 45.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 881 45.3
    Not in the labour force 516 26.6
    Employed, worked part-time 383 19.7
    Employed, away from work 110 5.7
    Unemployed, looking for work 53 2.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 200 14.6
    Professionals 345 25.1
    Technicians & trades workers 176 12.8
    Community & personal service workers 131 9.5
    Clerical & administrative workers 293 21.3
    Others 228 16.6
    Occupation
    Census Count Percent(%)
    Pre-school 50 7.8
    Infants/Primary 233 36.3
    Secondary 169 26.4
    Technical or Further Educational Institution 56 8.7
    University or other Tertiary Institutions 120 18.7
    Others 13 2.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2359 97.2
    Semi-detached, row or terrace house, townhouse 39 1.6
    Flat, unit or apartment 28 1.2
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 389 44.3
    Fully owned 308 35.0
    Rented 182 20.7
    Other tenure type 0 0.0
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals