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:
Affordable with a good location
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.