Property value increases in Belconnen have tracked just lower than the ACT average of 3.89% over the last 12 months.
While Belconnen,2617 ranked number 26th in ACT for increase in median house value (annualised) increase, it is ranked 47th over the last 5 years.
Belconnen, 2617 is offering ACT ‘s 17th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 20% of discounts offered by this ACT.
Often selling an investment property can take time, and in Belconnen the average time real estate has been on the market is 83.9604 days.
A $430 per week rent on the median house gives suburb investors a gross yield of circa 5.73%, without taking into account capital value appreciation, which has been averaging out at 0.21%.
Information supplied by:
Occupancies increase in regional centre
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.