O'connor is an average performer in ACT when comparing median price capital growth over the last year. O'connor gave property investors a good capital gain figure when compared to the rest of the state, with 4.98%.
While O'connor,2602 ranked number 8th in ACT for increase in median house value (annualised) increase, it is ranked 10th over the last 5 years.
The ACT suburb of O'connor, 2602 is in the Unincorporated ACT local government area.
If you compare the increase in value of investment property in O'connor, 2602 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this ACT suburb was 19.79%.
O'connor,2602 was ranked 791 in Australia by increase in median property value over the quarter.
Property buyers and investors in O'connor 2602 should be seeing an average reduction in asking price of around -3.80% . This means that O'connor is holding prices well when compared to other suburbs in ACT.
In the last year 36 properties changed hands in O'connor, which puts it as the 26th most active market in ACT when comparing the number of sales per suburb.
O'connor is 52th on a list of best yielding suburbs for rents in ACT with a 5.03% return
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Information supplied by:
March 2017
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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.