Demand For Homes Stays High In 1 State While The Rest Fall Back
Rising interest rates have eased demand from potential buyers, which has been reflected in the slowing of home price gro...
A 40.52% increase in median property prices in MACQUARIE, 2614 has allowed this suburb to join the ranks of best performing suburbs in ACT, settling at number 9th.
A steady increase in median property prices over a five-year period in the suburb translates to a 63.5% capital gain.
It 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 $1,075,000
The augmented property values in the suburb are trailing above the territorial average of 23.9% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $560.
Home owners selling their properties and realtors in MACQUARIE usually have to wait an average of 0.0 days days before their assets are lifted off the market.
The ACT suburb ranks 79th on the list of best yielding suburbs for rental properties in ACT, posting a 2.71% return.
It also places places 54th in Australia based on median property value growth during the quarter.
Macquarie is a suburb in the district of Belconnen in Canberra, ACT. Like its NSW counterpart, the suburb’s namesake was Lachlan Macquarie, NSW’s governor during the early 19th century. The suburb’s streets were named in honour of Macquarie’s peers at the time.
Macquarie is bounded by the suburbs of Belconnen to its north, Aranda to its east, Cook to its south, and Weetangera to its west. It lies along the arterial road of Belconnen Way, which runs in the middle of the district.
Overview of real estate environment
Macquarie has seen a boost in tourist arrivals and ranks among the top five ACT suburbs where tourists prefer to stay. Canberra, on the whole, is experiencing a rise in tourism as reflected by the millions funnelled by its hospitality industry to its local economy.
Occupancy rates were equally high for private dwellings with just 7 per cent of the properties unoccupied. Separate houses dominate Macquarie’s streetscapes, followed by flats or apartments, and lastly, a small number of semi-detached, row or town houses. Most of these houses are three-bedroom homes.
Things to do in Macquarie
Macquarie is popular among residents of Belconnen for its Big Splash Waterpark, a pool resort located next to the shopping complex of Jamison Centre. Its lifestyle corridor is located on the eastern corner of the suburb, encompassing Jamison Centre shops, a gym, salon, a supermarket, cafe, and a news agency. Surrounding points of interest include the Canberra Southern Cross Club and the Canberra High School.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||40.52%||32.8%|
|Median 3 years||63.5%||46.67%|
|Median 5 years||52.48%||27.32%|
|10 years average annual||8.53%||6.59%|
|Weekly media advert. rent||$560||$470|
|Time on Market||0.0 days||72.7 days|
|Gross Rental Yield Percent||2.71%||3.96%|