BELCONNEN

Our Suburb

Due-Diligence

In this section, we take a closer look at the Belconnen region so you have a true understanding of the area and its surrounds. We digest the data that matters and take a look at the lifestyle elements that make it, the region it is today.

INFASTRUCTURE

The Canberra CBD is in need of a makeover and the ACT government has set the framework in place to transform Canberra’s city centre by 2031. In August 2017 Malcolm Snow was appointed CEO of the City Renewal Authority. Positioned as one of Australia’s leading place makers with past roles as CEO of the National Capital Authority, Head of Design with the city of Melbourne, Director of International consulting with Urbis and CEO of the South Bank Corporation in Brisbane.  

Belconnen

Due-Diligence

The Numbers

 

Population

96,049

 

Increasing/Decreasing Population

The population has increased since 2006 by 12.64%

<Stats below based
on the suburb of Latham
in Belconnen>

 

Vacancy Rates

0.4% of properties in the region

are unoccupied. We don't like the rate to be above 2%. Canberra as a whole is 1%

 

The vacancy rates in the region

are decreasing. This is good because it shows demand is getting stronger

Average Days on Market 

55 days on average to sell a home

 

Auction Clearance Rates

64% of properties that go to

auction sell

 

Ratio of Renters to Owner Occupied

21% are renters / 78% are owner-occupied. We prefer renters to be under 35%. More owner occupiers generally mean properties are better looked after in the area and greater demand for tenants if for an investment

 

Supply vs. Demand

DSR (Demand Supply Ratio) score of 61. The DSR is a number out of 100 that gauges the demand relative to supply for a residential property market. We look for this to be always over 50. 60 is great, 70 is excellent

 

Housing Affordability

(Asset to Income)

26%. This is is the percentage of the household income that goes towards paying a mortgage (based on an 80% LVR of the median property price). We like this to be under 40%

Monthly Household Income

$8,055

​​​

Established Capital Benchmark

The highest sale price in the suburb was $725K. We always want to ensure our max. budget is at least 75% of the highest sale. Our max. budget is sitting at 82.7%.

For Sale Now (Online) 

Houses - 11

Median Rent & Gross Rental Yield 

$490 / 4.9%

Last 12 Month Capital Growth

-1.52% 

 

Renovation Potential

Yes. Opportunity to add value in three common ways;

1. Cosmetic, 2.Extension with an additional bedroom, and 3. Granny Flat

Public Transport

Bus to CBD - 35 minutes

Car to CBD - 20 minutes

 

The region of Belconnen is subdivided into 25 divisions (suburbs), sections and blocks. The district of Belconnen lies entirely within the bounds of the city of Canberra.

 

The region is the most populous district within the ACT and is situated approximately 7 kilometres to the north-west of the central business district of Canberra, and surrounds an artificially created, ornamental lake, Lake Ginninderra. 

The region includes Belconnen Westfield, Canberra Stadium, University of Canberra, 23 Preschools, 19 Primary Schools, 5 High Schools and 3 Colleges. Included in this is the prominent Radford College and Canberra High.
 
Canberra is in the middle of a 10-year infrastructure plan, with the Light Rail network being at the forefront of this. Stage 1 of 2 is under construction and this is servicing the North. Whilst stage 2 will service the South, stage 3 includes the servicing of the north-west through to Belconnen. As part of the proposed stage 3 plan, an extension of the light rail network from Belconnen to Kippax is included.
 
Housing in the region is generally double brick and there is a sprinkling of ex-government housing in the area. The majority of properties in the region are un-renovated and dated providing the opportunity for capital improvements. On the ground, there is an extremely high demand for smartly renovated properties aiding in property prices increasing.
 
Important to note:
All land in the ACT is leasehold, not freehold. These leases are 99 years and at the conclusion of the term, it is rolled over for another 99 years. It is a system that has been in place since 1913. On single residential dwellings, your property is valued every 12 months, you are then required to pay land tax on the value of the land. This is no different from any other state when buying real estate, however, there is no threshold. When we present properties, we include this in the financial feasibility. 
 
What we like to do:
We recommend purchasing older style properties built in 1970s that are double brick on land over 600m2. We look for properties that value can be added by way of cosmetic renovation and future potential to extend or build a granny flat.
 
The Strategy:
To purchase a property under $600,000 that is on a block larger than 600m2. The property itself should be in a condition that can be leased as is, with the land providing the ability to add a granny flat. The property in its current condition would generally have a rental yield of up to 4.5%.  This will provide you with the best opportunity to create equity to re-purchase and build your portfolio. 
For Sale - Evatt
For Sale - Scullin
$625k - Florey
$695k - Florey
$630k - Evatt
$592k - Scullin

Property Styles

Lifestyle

What Social Media Is Saying

Lifestyle