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Weston
AREA REPORTS

Weston

Weston - SUBURB PROFILE REPORT
POSTAL CODE: ACT, 2611

house

A steady increase in median property prices over a five-year period in the suburb translates to a 10.87% capital gain.

Property investors in WESTON enjoyed capital gains of 2.67% over the last 12 months translating to lower returns compared with its peers in the territory.

The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $765,000.

Profits due to an upward trend in home prices there averaged 3.62% per annum over a 3-year period.

Home owners selling their properties and realtors in WESTON usually have to wait an average of 43.7 days days before their assets are lifted off the market.

Average weekly rents on listings have reached the $582.5 mark, reflecting a 3.96% increase in returns based on the current median price in WESTON.

WESTON, 2611 places 49th in Australia based on median property value growth during the quarter.

Surburb overview

Weston is a suburb in the Weston Creek district of Canberra. It is bordered by Hindmarsh Drive, Tuggeranong Parkway, and Streeton Drive, and lies on the opposite side of the Oakey Hill Nature Reserve. Weston is the location of key facilities and the centre of most commercial activities in the district.

Amenities in Weston

Weston is the main retail destination of its residents and that of its neighbouring suburbs. Cooleman Court is located in Weston, and so are other shops and dining places catering to the needs of its 3,576-strong population. Weston Creek also houses a post office, property brokers, a gas station, and several more shops.

Weston has a number of churches, congregations, and temples for residents of different faiths. Notable academic institutions are located in Weston, such as the Orana School, the Canberra Institute of Technology, and Australian Defence College's Centre for Defence and Strategic Studies.

Real estate performance

Weston is consistently among the top performers in Canberra's property auction market with most of its listings being snapped up. It is also recognised regularly as one of the suburbs with noteworthy auction sales. The average house price in Weston has increased by 33.33 per cent in the past five years.

Data report can be found below

Weston
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $765,000 N/A
GROWTH REPORT
Median Quarterly 2.75% N/A
Median 12 month 2.67% N/A
Median 3 years 10.87% N/A
Median 5 years 10.71% N/A
10 years average annual 3.67% N/A
Weekly media advert. rent $582.5 N/A
Time on Market 43.7 days N/A
Gross Rental Yield Percent 3.96% N/A
demographics (median values)*
Total Population
28018
Weekly Household Income
2124
Household Size
2.50
Age
38
Monthly Loan Repayment
2167
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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