Property value increases in Belconnen have tracked just lower than the ACT average of 4.46% over the last 12 months.
While Belconnen,2617 ranked number 10th in ACT for increase in median house value (annualised) increase, it is ranked 85th over the last 5 years.
In the last year 19 properties changed hands in Belconnen, which puts it as the 90th most active market in ACT when comparing the number of sales per suburb.
With the median price for a house in Belconnen being $400000 and the advertised rent reaching $420 the gross rental yield for property investors calculates out to be 5.46%
Property investors who have had real estate in Belconnen, 2617 should be unhappy with this ACT suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -8.86%
The five-year average increase in median property values for Belconnen,2617 has given property investors a potential capital gain of -11.66% across each of those five years.
Belconnen, 2617 is offering ACT ‘s 11th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this ACT.
Residents and property investors in Belconnen have been waiting around 83.99 days to sell a property.
Situated 6.95km from the CBD, Belconnen is one of Unincorporated ACT localities in the postcode 2617.
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Information supplied by:
January 2018
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Occupancies increase in regional centre
Postcode: 2617
Median unit price: $402,250
Vacancy rate: 1.8% (from 3.1%)
Three-year growth: -0.9%
With the ACT’s continued rise in the national market, Belconnen has seen the average vacancy rate fall sharply from 3.1% to just 1.8%.
Units are reasonably priced at a median of $402,250 – the suburb has only recently started seeing some growth again following a slight stumble in the past three years. Returns for investors are quite high at 5.2%, making it an attractive option given the suburb’s favourable location.
The suburb of Belconnen is a major centre for the Belconnen district, and is the site of many of the area’s top amenities, such as the Belconnen Town Centre and Lake Ginniderra. The former houses Westfield Belconnen, as well as several government offices. Lake Ginniderra College is situated on the south-eastern shore of the lake.