ACT Reports Progress Of ‘Better Suburbs’
The ACT government has delivered an update on its “Better Suburbs” plan, detailing the headway that has been made to...
Property investors enjoyed capital gains of 20% over the last 12 months in COOK, translating to lower returns compared with its peers in ACT.
A survey of average capital gains or median home price increase in suburbs across the country shows that the ACT suburb obtained a 6.31% growth over a ten-year period. It ranks 1374th on our list of suburbs that property investors should look into.
COOK, 2614 has a capital gain of 20% for the past year, which is higher than average compared to its 49.81% growth within a five-year period.
With the median home price in COOK sitting at $900,000, and the average rent at $550, property owners could potentially earn a 3.18% increase in gross rental yield.
A 20% increase in median property prices in COOK, 2614 has allowed this suburb to join the ranks of best performing suburbs in ACT, settling at number 36th.
Figures from the previous quarter show that capital gains for real estate buyers in COOK are low, as opposed to average gains per annum over the past five years.
COOK, 2614 in ACT belongs to the local government area of Unincorporated ACT.
Cook is a suburb in the Belconnen district of Canberra. Its namesake were British explorer James Cook and former Australian prime minister Joseph Cook.
Cook is one-half of the two suburbs in Australia (apart from Chisholm) whose theme centers on notable women. Streets in Cook were named in honour of accomplished women of the community, such as poet Dorothea Mackellar, novelist and poet Ada Cambridge, social worker Florence Grylls, artist and naturalist Ellis Rowan and philanthropist Amy Alfreda Vickery. Parks are also named in honour of accomplished women such as theatre performer Pat Rubly.
Cook has its own shopping centre, which houses a supermarket offering gourmet items, a cafe and an Asian restaurant. It doesn’t have a school in its vicinity, although educational providers in Aranda, Macquarie and Weetangera could meet the needs of residents.
Things to do in Cook
Cook is bounded by the suburbs of Weetangera, Macquarie and Aranda to its north-west, north and north-east. Situated in the north of the Mount Painter Nature Reserve, it is accessible via main streets such as the Bindubi Street, Redfern Street and Coulter Drive.
Cook is either a drive or walk away from community facilities and landmarks. A short drive away is the Captain Cook Memorial Jet, which was installed in honour of the bicentenary anniversary of the explorer’s discovery of Australia’s east coast. The shrine is located at Lake Burley Griffin, a beautiful, artificial lake at the heart of Canberra.
The Cook Community Garden, meanwhile, is located along Bindubi, which has cycling and walking lanes. For residents or tourists who are feeling adventurous, Mount Painter Nature Reserve have challenging hiking trails that offer access to a lookout, providing unobstructed views of Civic and Cook’s surrounds.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||20%||43.4%|
|Median 3 years||18.03%||N/A|
|Median 5 years||49.81%||49.85%|
|10 years average annual||6.31%||5.28%|
|Weekly media advert. rent||$550||$460|
|Time on Market||0.0 days||0.0 days|
|Gross Rental Yield Percent||3.18%||3.19%|