Spence is in the TOP 10% in ACT when comparing median price capital growth over the last year. Spence gave property investors a very good capital gain figure when compared to the rest of the state, with 10.66%.
Taking the average capital gain, or increase in median house value, Spence,2615 has racked up an average of 10.66% over the period. This ranks it number 614th in the whole country for real estate investors looking at median house price increases.
Often selling an investment property can take time, and in Spence the average time real estate has been on the market is 59.5833 days.
Spence is 64th on a list of best yielding suburbs for rents in ACT with a 3.93% return
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Spence, ACT – Consistent upswings in Belconnen suburb
Median house price: $610,000
Three-year growth: 23.2%
Rental yield: 4.4%
First established in 1974, the suburb of Spence in Canberra’s Belconnen district is less than half an hour from the capital. It is centrally located adjacent to the suburbs of Melba, Fraser and Evatt.
The suburb continues to ride the wave of strong positive growth, which has been observed since 2014. A primarily residential suburb, Spence generally attracts families who are looking to raise children in an environment that focuses on the outdoors, with provisions for child care. Spence is home to a preschool that’s also known as Mount Rogers Primary School. Fraser and Evatt also have primary schools as well. Spence has a shopping centre as well, providing for residents’ needs.