With a capital gain of 3.17% for the last 12 months, Spence, 2615 has performed for property investments than its average annual 3.31% property growth over the last 5 years.
Spence,2615 has offered an average of 3.17% return per annum in house price rises to property investors over the last three years.
At number 1619 in a list of fastest selling suburbs, Spence is just in the top half of suburbs in Australia with an average of days on market 65.0833 for properties listed there.
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Spence, ACT – Consistent upswings in Belconnen suburb
Median house price: $610,000
Three-year growth: 23.2%
Rental yield: 4.4%
First established in 1974, the suburb of Spence in Canberra’s Belconnen district is less than half an hour from the capital. It is centrally located adjacent to the suburbs of Melba, Fraser and Evatt.
The suburb continues to ride the wave of strong positive growth, which has been observed since 2014. A primarily residential suburb, Spence generally attracts families who are looking to raise children in an environment that focuses on the outdoors, with provisions for child care. Spence is home to a preschool that’s also known as Mount Rogers Primary School. Fraser and Evatt also have primary schools as well. Spence has a shopping centre as well, providing for residents’ needs.