Suburb Profile Report for Queanbeyan East NSW (2620)

Queanbeyan East House: Median price $614,000, Annual capital growth 2.19%, Number of sales 22, Weekly median advertised rent $500

Queanbeyan East Unit: Median price $286,250, Annual capital growth 2.10%, Number of sales 100, Weekly median advertised rent $315

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

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

If you compare the increase in value of investment property in Queanbeyan East, 2620 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this NSW suburb was 8.19%.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Queanbeyan East has increased when compared to the 5 year average annual rate.

On average over the past year, suburb has had 1.83 sales per month, which equates to 22 per year.

A $500 per week rent on the median house gives suburb investors a gross yield of circa 4.23%, without taking into account capital value appreciation, which has been averaging out at 2.19%.

At number 1326th in the list of Australian suburbs ordered by increase in median house value over the last year, Queanbeyan East, 2620 is in the BOTTOM 20% with a property value increase of -13.72% recorded in median house prices.

Over the longer term, Queanbeyan East has seen property prices show investors a 10.74% return over the last 3 years. This is worse than over the last 12 months

Queanbeyan East, 2620 is offering NSW ‘s 289th 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 NSW.

Information supplied by:


February 2019

M
O

W
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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
$614,000 $286,250
4.01% 2.23%
8.19% -13.72%
2.19% 2.10%
$500 $315
22 100
4.23% 5.72%
78.6 78.4657534246575

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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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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