ACT has seen average median house prices change by 5.48% which means that O'connor, 2602 has done well for property investors by showing a capital gain of 20.64% over the last year
If we look at median property appreciation over just the last three months, O'connor has given property investors a paper return of 7.52%. This puts Suburb as 14 on a list of fastest fasting appreciating suburbs in ACT
Advertised rents are around the $645 mark per week – giving a return of 2.95% based on the median price in Suburb
At number 1281th in the list of Australian suburbs ordered by increase in median house value over the last year, O'connor, 2602 is in the BOTTOM 20% with a property value increase of -4.89% recorded in median house prices.
If we look at median property appreciation over just the last three months, O'connor has given property investors a paper return of -10.26%. This puts Suburb as 63 on a list of fastest fasting appreciating suburbs in ACT
O'connor, 2602 is offering ACT ‘s 21th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this ACT.
In the last year 46 properties changed hands in O'connor, which puts it as the 21th most active market in ACT when comparing the number of sales per suburb.
With the median price for a house in O'connor being $437500 and the advertised rent reaching $450 the gross rental yield for property investors calculates out to be 5.35%
Information supplied by:
Median unit price: $350,000
Rental yield: 5.34%
The North Canberra suburb of O’Connor has experienced a great boost in its rental market, particularly for studio and one-bedroom units.
Prices have remained consistent, while rent rates soared by 12.5%, alluding to O’Connor’s popularity with tenants. In fact, average vacancy rate fell sharply from a high 2.7% to a low 1.9%.
The main factor may be O’Connor’s affordability relative to its location, given that it is just 3km from Canberra. This puts it in close proximity to the Australian National University and Canberra Centre, which can be reached by bus and car. O’Connor is also near a nature reserve that links this suburb with the suburb of Bruce.
Within O’Connor itself, there is a shopping centre that includes a bar, restaurants, a pharmacy and a grocery store. The local playing fields also host games of soccer, rugby and cricket.