Investment property in O'connor has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 8.54%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in O'connor has increased when compared to the 5 year average annual rate.
Vendor discounting in O'connor is giving property investors an average Vendor Discount of around -3.75%. This puts suburb at number 25th in ACT when ranking the most discounted suburbs.
Using the current median advertised rental of $595 and the average annual increase in value of a median property of 6.43%, investors should hope to achieve an overall return of 3.02%
If you compare the increase in value of investment property in O'connor, 2602 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this ACT suburb was -10.20%.
When looking at the potential capital gains offered to property investors over the last 3 years, O'connor comes in at number 56th in ACT.
Our latest figures would indicate that property sellers in O'connor are currently offering property investors an average price cut of -3.52% below the asking price at the moment.
The North Canberra suburb of O’Connor has experienced a great boost in its rental market, particularly for studio and one-bedroom units.Full summary
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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.Close