Suburb Profile Report for Queanbeyan East NSW (2620)

Queanbeyan East House: Median price $605,000, Annual capital growth 2.58%, Number of sales 29, Weekly median advertised rent $560

Queanbeyan East Unit: Median price $330,000, Annual capital growth 3.21%, Number of sales 106, Weekly median advertised rent $300

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

Property value increases in Queanbeyan East have tracked close to the NSW average of 1.14% over the last 12 months.

The five-year average increase in median property values for Queanbeyan East,2620 has given property investors a potential capital gain of 21.30% across each of those five years.

Residents and property investors in Queanbeyan East have been waiting around 52.0556 days to sell a property.

With the median price for a house in Queanbeyan East being $605000 and the advertised rent reaching $560 the gross rental yield for property investors calculates out to be 4.81%

Queanbeyan East has had a pretty good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 3.13% to date .

Taking the average capital gain, or increase in median house value, Queanbeyan East,2620 has racked up an average of 3.13% over the period. This ranks it number 203th in the whole country for real estate investors looking at median house price increases.

Sellers are offering property buyers an average discount of -3.60% to buyers in Queanbeyan East at the moment, which is less than average for the rest of NSW.

Advertised rents are around the $300 mark per week – giving a return of 4.73% based on the median price in Suburb

Information supplied by:


February 2019

M
O

W
E

Affordable with a good location

Postcode: 2620

Median unit price: $310,000

Three-year growth: 3.4%

Rental yield: 4.7%

One of the newer suburbs in the Queanbeyan area, Queanbeyan East sits on the northeastern bank of the Queanbeyan River. It serves as Queanbeyan’s manufacturing and industrial district.

Many high-density units have been constructed in this suburb to create supply and encourage migration from outside the state, especially with Canberra locals looking to make the shift to Queanbeyan. Queanbeyan East is not lacking in amenities – it is home to a TAFE campus and a public school, as well as a shopping strip. It also has the largest sports ground in the city in Seiffert Oval.

Unit prices went up by nearly 7% in the 12 months to November 2018, putting the median price at just over $300,000. This price tag is certainly a factor in drawing migrants who want to be close to Australia’s capital.

Metrics i HOUSE UNIT
$605,000 $330,000
-0.49% 10.00%
0.72% 3.13%
2.58% 3.21%
$560 $300
29 106
4.81% 4.73%
52.0555555555556 85.76

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (H), Good (U)
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Demographics
Total population 3765
Median household income ($/weekly) 1291
Median age of persons 33
Median housing loan repayment ($/monthly) 1896
Average household size 2
  • Census Count Percent(%)
    20-24 years 363 9.6
    25-34 years 857 22.8
    35-44 years 610 16.2
    45-54 years 499 13.3
    55-64 years 339 9.0
    Others 1097 29.1
    Age Group
    Census Count Percent(%)
    Not Married 1396 49.3
    Registered Married 1020 36.1
    Defacto Relationship 413 14.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 2529 72.3
    Indonesia 162 4.6
    Papua New Guinea 77 2.2
    United Kingdom 123 3.5
    Other 194 5.5
    Others 414 11.8
    Country of Birth
    Census Count Percent(%)
    Christianity 2258 66.5
    Hinduism 112 3.3
    Islam 100 2.9
    Other Religious Groups 100 2.9
    No Religion 750 22.1
    Others 74 2.2
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 146 9.1
    $800-$999 141 8.8
    $1,000-$1,249 171 10.7
    $1,250-$1,499 169 10.6
    $1,500-$1,999 259 16.2
    Others 714 44.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1628 55.1
    Not in the labour force 671 22.7
    Employed, worked part-time 453 15.3
    Employed, away from work 132 4.5
    Unemployed, looking for work 73 2.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 234 10.6
    Professionals 411 18.5
    Technicians & trades workers 337 15.2
    Community & personal service workers 228 10.3
    Clerical & administrative workers 414 18.7
    Others 593 26.7
    Occupation
    Census Count Percent(%)
    Infants/Primary 235 31.5
    Secondary 118 15.8
    Technical or Further Educational Institution 146 19.5
    University or other Tertiary Institutions 174 23.3
    Other type of educational institution 38 5.1
    Others 36 4.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1439 41.5
    Flat, unit or apartment 1139 32.9
    Semi-detached, row or terrace house, townhouse 877 25.3
    House or flat attached to a shop, office 12 0.3
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 836 49.6
    Being purchased 528 31.3
    Fully owned 314 18.6
    Other tenure type 8 0.5
    Tenure Type
Census 2011, ABS
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