If you compare the increase in value of investment property in Flynn, 2615 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this ACT suburb was 2.54%.
The five-year average increase in median property values for Flynn,2615 has given property investors a potential capital gain of 25.36% across each of those five years.
In the last year 66 properties changed hands in Flynn, which puts it as the 23th most active market in ACT when comparing the number of sales per suburb.
Flynn, 2615’s gross rental yield is 4.96%
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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%.