Suburb Profile Report for Belconnen ACT (2617)

Belconnen House: Median price $387,500, Annual capital growth -2.44%, Number of sales 16, Weekly median advertised rent $400

Belconnen Unit: Median price $370,000, Annual capital growth 0.87%, Number of sales 176, Weekly median advertised rent $410

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

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

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  • House Report
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Property value increases in Belconnen have tracked just lower than the ACT average of 4.46% over the last 12 months.

While Belconnen,2617 ranked number 10th in ACT for increase in median house value (annualised) increase, it is ranked 85th over the last 5 years.

In the last year 19 properties changed hands in Belconnen, which puts it as the 90th most active market in ACT when comparing the number of sales per suburb.

With the median price for a house in Belconnen being $400000 and the advertised rent reaching $420 the gross rental yield for property investors calculates out to be 5.46%

Property investors who have had real estate in Belconnen, 2617 should be unhappy with this ACT suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -8.86%

The five-year average increase in median property values for Belconnen,2617 has given property investors a potential capital gain of -11.66% across each of those five years.

Belconnen, 2617 is offering ACT ‘s 11th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this ACT.

Residents and property investors in Belconnen have been waiting around 83.99 days to sell a property.

Situated 6.95km from the CBD, Belconnen is one of Unincorporated ACT localities in the postcode 2617.

Information supplied by:


January 2018

M
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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
$387,500 $370,000
-4.62% 0.41%
0.91% -6.33%
-2.44% 0.87%
$400 $410
16 176
5.37% 5.76%
52.5 86.10084

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

DSR Score for property investment : Above average (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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