Housing Market Intervention To Wipe Out Growth By 2023
A big four bank has conceded that its earlier property growth forecasts were overly cautious, while predicting that a t...
The suburb’s capital gain of 2.13% for the past year is lower than average compared to its 43.3% growth within a five-year period.
Also in FLOREY, the median home price is sitting at $695,000, and the average rent at $520, this suggests property owners could potentially earn a 3.89% increase in gross rental yield.
Property investors have seen a 0.58% gain in FLOREY based on an increase in median home prices for the past three months.
A survey of average capital gains or median home price increase in suburbs across the country shows that this suburb obtained a 3.35% growth over a ten-year period. It ranks 2553rd on our list of suburbs that property investors should look into.
Florey is a suburb located in the Belconnen District of Canberra, bounded by Kingsford Smith Drive, Ginninderra Drive, Coulter Drive and Southern Cross Drive. It is bordered by Latham, Scullin, Belconnen, Melba and Evatt. Established in 1975, the suburb was named in honour of Nobel Prize-winning scientist Howard Walter Florey. The suburb’s theme revolves around scientists, hence the name of its streets.
Things to do in Florey
Florey is close to the Western Foreshore Park of the Lake Ginninderra which offers a serene view of the lake and is a prominent spot for kayaking. Florey is well positioned at the heart of the Belconnen District, making it within close proximity of the Belconnen Town Centre. Yet there’s no dearth of lifestyle destinations at Florey, as the suburb boasts its own set of shops along Kesteven Street and Ratcliffe Crescent. In terms of amenities, Florey has three schools, several parks and a medical centre.
Lively property investment
Florey has one of the largest populations in Belconnen and in the entire capital of Canberra for that matter. It’s easy to understand why: the property market in Belconnen is affordable and Florey offers one of the lowest average house prices among suburbs based on the latest property data. Its auction market is not one to be left behind as well, with record sales reaching close to a million dollars for a five-bedroom home.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||2.13%||-0.94%|
|Median 3 years||9.97%||7.32%|
|Median 5 years||43.3%||15.65%|
|10 years average annual||3.35%||1.12%|
|Weekly media advert. rent||$520||$480|
|Time on Market||36.6 days||0.0 days|
|Gross Rental Yield Percent||3.89%||5.93%|