Investment property in Flynn has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 3.97%
While Flynn,2615 ranked number 9th in ACT for increase in median house value (annualised) increase, it is ranked 67th over the last 5 years.
The most recent median price for Flynn is $616000, with sellers offering an average of -3.60% off the asking price.
At number 771 in a list of fastest selling suburbs, Flynn is in the TOP 30% of suburbs in Australia with an average of days on market 56.7059 for properties listed there.
Using the current median advertised rental of $520 and the average annual increase in value of a median property of 3.66%, investors should hope to achieve an overall return of 4.39%
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Information supplied by:
March 2019
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Canberra suburb has growth potential
Postcode: 2615
Median house price: $605,000
Three-year growth: 13.9%
Rental yield: 4.7%
The suburb of Flynn provides residents with a great deal of open space to enjoy, with large properties on tree-lined streets. Many parks and gardens flourish here, making this a great suburb for the nature lover.
It is just 12km northwest of Canberra, and while Flynn does not have many amenities within its area, its central location near Belconnen means that residents can easily travel to the city for their needs. For instance, nearby Melba and Fraser offer schooling options and sports facilities.
House prices are high in line with Canberra’s overall market position. The suburb has maintained a 4.1% average annual growth rate, with the recent price increase of 4.3% over the December 2017-2018 period bringing the median value to over $600,000. Even then, the average discount rate is low at 3.8%.