If you compare the increase in value of investment property in Cook, 2614 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this ACT suburb was -3.54%.
The five-year average increase in median property values for Cook,2614 has given property investors a potential capital gain of 11.94% across each of those five years.
On average over the past year, suburb has had 2.75 sales per month, which equates to 33 per year.
A $540 per week rent on the median house gives suburb investors a gross yield of circa 3.74%, without taking into account capital value appreciation, which has been averaging out at 3.17%.
Cook is in the bottom 30% in ACT when comparing median price capital growth over the last year. Cook gave property investors a disappointing capital gain figure when compared to the rest of the state, with -0.93%.
If we look at median property appreciation over just the last three months, Cook has given property investors a paper return of 2.29%. This puts Suburb as 22 on a list of fastest fasting appreciating suburbs in ACT
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Located only 6km from the Canberra CBD, Cook’s proximity to the city has resulted in the suburb’s median house price rising to as high as it has ever been.
Cook has seen 14.1% growth in its house market, and the vacancy rate hovers at a reasonable 1.2%. Investors will also be attracted to the high rental yield for units, which was 4.7% in the previous quarter.
Despite being close to what Canberra has to offer, the suburb itself is not short of amenities.
The local shopping centre has a supermarket, a cafe and restaurants.
There’s also a preschool and a school park.
Commuters can take a bus to Canberra from the stop at the Templeton St Cook Shops, so, unsurprisingly, the suburb is favoured by young adults working in the city