At number 1065th in the list of Australian suburbs ordered by increase in median house value over the last year, Spence, 2615 is in the top 30% with a property value increase of 4.17% recorded in median house prices.
If we look at median property appreciation over just the last three months, Spence has given property investors a paper return of 0.81%. This puts Suburb as 42 on a list of fastest fasting appreciating suburbs in ACT
Situated 10.54km from the CBD, Spence is one of Unincorporated ACT localities in the postcode 2615.
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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.