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...
Property investors enjoyed capital gains of 28.4% over the last 12 months in MACGREGOR, 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 7% growth over a ten-year period. It ranks 1455th on our list of suburbs that property investors should look into.
MACGREGOR, 2615 has a capital gain of 28.4% for the past year, which is higher than average compared to its 66.54% growth within a five-year period.
With the median home price in MACGREGOR sitting at $755,000, and the average rent at $580, property owners could potentially earn a 3.99% increase in gross rental yield.
A 28.4% increase in median property prices in MACGREGOR, 2615 has allowed this suburb to join the ranks of best performing suburbs in ACT, settling at number 39th.
Figures from the previous quarter show that capital gains for real estate buyers in MACGREGOR are low, as opposed to average gains per annum over the past five years.
MACGREGOR, 2615 in ACT belongs to the local government area of Unincorporated ACT.
Macgregor is a suburb in the Belconnen District of Canberra. Its namesake was the governor of Queensland during the early 1900s. The suburb’s theme focuses on vanguards of the Australian medical sector – street names were assigned in honour of medical pioneers and researchers. The suburb was gazetted in 1971.
Old and new Macgregor
Macgregor is an amalgamation of the old and new, though some visitors say that only locals could seem to tell the distinction between the two. Residents note that old Macgregor homes are perched upon larger blocks, while the newly erected ones in estates are more compact and sport an updated design.
Macgregor’s streetscapes vary depending on the style of houses and walkways implemented by each estate. Some streets have a more desert-like feel to them, while others exude a more contemporary vibe. Overall though, a common denominator between Macgregor housing estates is that they seem to have well-tended parklands, with trees providing ample shade and grasses growing in the right length.
Things to do in Macgregor
Aside from being one of the most affordable places in the Belconnen district, families and entry-level buyers are flocking to Macgregor due to its closeness to amenities, recreational areas and tourist spots, particularly the Goodwin Hill and the Umbagong District Park. Shopping amenities, such as the Belconnen Mall, are a short drive away from the suburb, though plans have been announced to put up a community centre to cater to residents’ lifestyle needs.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||28.4%||N/A|
|Median 3 years||46.6%||32.83%|
|Median 5 years||66.54%||58.81%|
|10 years average annual||7%||1.97%|
|Weekly media advert. rent||$580||$495|
|Time on Market||30.4 days||0.0 days|
|Gross Rental Yield Percent||3.99%||4.84%|