Suburb Profile Report for Belconnen ACT (2617)

Belconnen House: Median price $400,000, Annual capital growth -1.62%, Number of sales 17, Weekly median advertised rent $405

Belconnen Unit: Median price $387,000, Annual capital growth 1.11%, Number of sales 159, Weekly median advertised rent $415

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

Source: Monthly data update for Aug 2019 as supplied by CoreLogic. Data is reported to the period ending May 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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At number 1205th in the list of Australian suburbs ordered by increase in median house value over the last year, Belconnen, 2617 is in the top 30% with a property value increase of 4.17% recorded in median house prices.

Belconnen,2617 has offered an average of 4.17% return per annum in house price rises to property investors over the last three years.

In the last year 17 properties changed hands in Belconnen, which puts it as the 86th most active market in ACT when comparing the number of sales per suburb.

A $405 per week rent on the median house gives suburb investors a gross yield of circa 5.27%, without taking into account capital value appreciation, which has been averaging out at -1.62%.

With a capital gain of 0.00% for the last 12 months, Belconnen, 2617 has performed for property investments than its average annual 1.11% property growth over the last 5 years.

When looking at the potential capital gains offered to property investors over the last 3 years, Belconnen comes in at number 36th in ACT.

LACK OF BUYER INTEREST may well be the reason that Belconnen is offering property investors an average of -3.95. This rate of discount on properties puts Suburb at number 9th in terms of most discounted suburbs in ACT

Renters in Suburb are facing rents around $21580 per annum or $415 every week.

Information supplied by:


January 2018

M
O

W
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Occupancies increase in regional centre

Postcode: 2617

Median unit price: $402,250

Vacancy rate: 1.8% (from 3.1%)

Three-year growth: -0.9%

With the ACT’s continued rise in the national market, Belconnen has seen the average vacancy rate fall sharply from 3.1% to just 1.8%.

Units are reasonably priced at a median of $402,250 – the suburb has only recently started seeing some growth again following a slight stumble in the past three years. Returns for investors are quite high at 5.2%, making it an attractive option given the suburb’s favourable location.

The suburb of Belconnen is a major centre for the Belconnen district, and is the site of many of the area’s top amenities, such as the Belconnen Town Centre and Lake Ginniderra. The former houses Westfield Belconnen, as well as several government offices. Lake Ginniderra College is situated on the south-eastern shore of the lake.

Metrics i HOUSE UNIT
$400,000 $387,000
0.00% 5.46%
4.17% 0.00%
-1.62% 1.11%
$405 $415
17 159
5.27% 5.58%
49.2727272727273 78.5765765765766

Source: Monthly data update for Aug 2019 as supplied by CoreLogic. Data is reported to the period ending May 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 4437
Median household income ($/weekly) 1418
Median age of persons 29
Median housing loan repayment ($/monthly) 1985
Average household size 1.9
  • Census Count Percent(%)
    20-24 years 769 17.3
    25-34 years 1444 32.6
    35-44 years 524 11.8
    45-54 years 348 7.8
    55-64 years 258 5.8
    Others 1093 24.6
    Age Group
    Census Count Percent(%)
    Not Married 1701 53.6
    Registered Married 984 31.0
    Defacto Relationship 486 15.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 2277 59.2
    Croatia 279 7.3
    Indonesia 169 4.4
    United Kingdom 138 3.6
    Other 401 10.4
    Others 581 15.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 180 4.9
    Christianity 1697 45.8
    Hinduism 158 4.3
    Islam 247 6.7
    No Religion 1363 36.8
    Others 58 1.6
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 173 9.7
    $1,250-$1,499 175 9.8
    $1,500-$1,999 298 16.8
    $2,000-$2,499 165 9.3
    $2,500-$2,999 201 11.3
    Others 767 43.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1700 48.1
    Not in the labour force 950 26.9
    Employed, worked part-time 580 16.4
    Unemployed, looking for work 161 4.6
    Employed, away from work 140 4.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 259 10.7
    Professionals 883 36.5
    Community & personal service workers 250 10.3
    Clerical & administrative workers 433 17.9
    Sales 207 8.6
    Others 388 16.0
    Occupation
    Census Count Percent(%)
    Infants/Primary 94 8.6
    Secondary 70 6.4
    Technical or Further Educational Institution 142 13.0
    University or other Tertiary Institutions 711 65.1
    Other type of educational institution 49 4.5
    Others 26 2.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Flat, unit or apartment 1746 48.5
    Semi-detached, row or terrace house, townhouse 1660 46.1
    Separate house 192 5.3
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1166 61.9
    Being purchased 399 21.2
    Fully owned 249 13.2
    Other tenure type 69 3.7
    Tenure Type
Census 2011, ABS
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