Phillip

POSTAL CODE: ACT, 2606

HOUSE

UNIT

Property investors have seen a -0.82% drop in PHILLIP based on a decrease in median home prices for the past three months.

Based on its average 5-year and quarterly capital gains PHILLIP, 2606 saw average growth in the long term.

The ACT suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $545,500

Profits averaged -8.67% per annum over a 3-year period, due to an downward trend in home prices in PHILLIP, 2606.

This means, real estate investors could earn a rental income of $620 based on current median home prices for the suburb.

The gross rental yield in PHILLIP, 2606 is 5.91%.

An average of 2.33 real estate transactions take place per month in PHILLIP which translates to 28 per annum.

Property investments in PHILLIP did not fare well against the rest of the country last year, registering a median home price decrease of 0.73%.

Figures from the previous quarter show that capital gains for real estate buyers in PHILLIP are low, as opposed to average gains per annum over the past five years.

Based on its average 5-year and quarterly capital gains PHILLIP, 2606 saw average growth in the long term.

This means, real estate investors could earn a rental income of $570 based on current median home prices for the suburb.

It is expected for properties to spend some time on the market prior to a successful sale. In PHILLIP, homes and units usually stay on listing for an average of 78.6 days.

the ACT suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $554,000

Investors saw the median home price rise to $554,000.

PHILLIP ranks 18th on the list of best yielding suburbs for rental properties in ACT, posting a 5.35% return.

Surburb overview

Phillip is a suburb at the heart of the Woden Valley district in Canberra. It was named after Arthur Phillip, the founder of Sydney and the first governor of NSW. Established in 1966, Phillip is a young suburb that contains the commercial district of Woden Valley.

Suburb profile

As the centre of economic activities in Woden, Phillip is constantly abuzz with tourists and locals. It houses the revitalised Woden Town Centre, the tallest building in Canberra, the Lovett Tower, retail and lifestyle destinations such as the Westfield Woden, transport hubs, recreational spaces such as the 14-hectare Eddison Park, the Woden Cemetery and sports facilities.

The ACT government is banking on an inflow of investments in Phillip due to the redevelopment of the Woden Town Centre. Its vision is to transform Phillip as one of the best areas to live in in the district.

Demographics

Phillip ranks fourth among Canberra suburbs for most number of migrants per capital city. Migrants account for 42.8 per cent of the suburb’s population, based on data from the Australian Bureau of Statistics.

The suburb’s population is young, with a median age of 32. Close to half of the population are married. Residents are largely Australian-born, while the rest are from India, Philippines, England, China, Malaysia, Zimbabwe and Korea.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$545,500	$554,000
Growth Report
Median Quarterly	-0.82%	3.56%
Median 12 month	-16.08%	0.73%
Median 3 years	-26.28%	6.85%
Median 5 years	17.95%	37.64%
10 years average annual	10.57%	5.21%
Weekly media advert. rent	$620	$570
Time on Market	78.1 days	78.6 days
Gross Rental Yield Percent	5.91%	5.35%

Demographics (Median Values)*

Total Population 9422

Weekly Household Income 1777

Household Size 2.20

Average Age 35

Monthly Loan Repayment 1950

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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