Why commercial is the new residential
Gone are the golden days where you could purchase residential properties with yields of 6, 7 or 8 per cent or build a self-sustaining prope...
A survey of average capital gains or median home price increase in suburbs across the country shows that the ACT suburb obtained a -0.39% decrease over a ten-year period. It ranks 4296th on our list of suburbs that property investors should look into.
BELCONNEN, 2617 in ACT belongs to the local government area of Unincorporated ACT.
Belconnen is a suburb in the Belconnen district of Canberra, ACT. The suburb is bounded by Ginninderra Drive, Coulter Drive, Belconnen Way, Eastern Valley Way, and Aikman Drive.
The suburb goes by the name it was associated with from the time it was inhabited. Its streets were named in honour of the lord mayors and mayors of cities in Australia. Belconnen is conveniently located an hour drive away from the capital.
Belconnen is a well-planned suburb, with an amazing view of the Brindabella Range on its west. Locals from surrounding suburbs head over to Belconnen for their lifestyle needs as the suburb not only covers the key facilities of the whole district but also boasts of leisure areas and recreational facilities that are unrivalled in its corner of Canberra.
Suburb growth
Unlike the rest of the other Belconnen suburbs, Belconnen’s residential developments are mostly apartment complexes and buildings. A huge chunk of residential spaces in Belconnen were flats or apartment units, translating to 70 per cent of the dwelling structures in the entire suburb. Next up were semi-detached or town houses at 30 per cent. Only less than 1 per cent of the suburbs were detached homes.
Refurbished units, as well as those found in new developments, populate online real estate listings. Units sell for $410,000, up by nearly 5 per cent in the last five years.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $463,000 | $411,000 |
| GROWTH REPORT | ||
| Median Quarterly | N/A | 2.75% |
| Median 12 month | N/A | 7.87% |
| Median 3 years | 16.48% | 4.31% |
| Median 5 years | N/A | 3.93% |
| 10 years average annual | -0.39% | 0.63% |
| Weekly media advert. rent | N/A | $455 |
| Time on Market | 0.0 days | 70.4 days |
| Gross Rental Yield Percent | N/A | 5.76% |
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