Property value increases in O'connor have tracked higher than the ACT average of 5.42% over the last 12 months.
If we look at median property appreciation over just the last three months, O'connor has given property investors a paper return of 0.43%. This puts Suburb as 49 on a list of fastest fasting appreciating suburbs in ACT
O'connor2602 is located in ACT which offers an average discount of -3.62% to property investors. O'connor itself is showing figures that indicate -7.08% is the average achievable by property buyers investing in the suburb.
At number 1762 in a list of fastest selling suburbs, O'connor is just in the top half of suburbs in Australia with an average of days on market 70.61 for properties listed there.
A $560 per week rent on the median house gives suburb investors a gross yield of circa 2.48%, without taking into account capital value appreciation, which has been averaging out at 7.23%.
Property value increases in O'connor have tracked higher than the ACT average of 1.45% over the last 12 months.
Across a shorter period, O'connor, 2602 has seen a median price increase of -6.48% over the last quarter.
O'connor, 2602 is offering ACT ‘s 17th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this ACT.
Residents and property investors in O'connor have been waiting around 78.6 days to sell a property.
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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.