Forrest (postcode 2603) is a close-knit residential community in Australian Capital Territory within the Unincorporated ACT local government area. The area has roughly 1,827 residents and a mature demographic, with a median age of 47. Households earn a median income of $175K per year, with an average household size of 2.2 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.3% year-on-year at the LGA level. ACT employment has moved -0.1% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. ACT also had 6 Commonwealth-backed major projects under construction, 1 underway, and 7 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, managers, clerical & administrative. Employment in the area leans toward public admin & safety and professional services. The top ancestries reported are English, Australian, Irish.
The median house price in Forrest is $5.0 million, having surged by 25.1% over the past year. Units have a median price of $849,000 (-0.7% YoY). The median weekly rent is $570 (Census 2021). This gives a gross rental yield of approximately 0.6%. The median monthly mortgage repayment is $2,520.
Forrest is served by 1 school, including 1 primary. The average ICSEA score is 1145, which is well above the national average of 1,000. Public transport access includes 13 bus stops. The crime rate in the Unincorporated ACT LGA is below average at 2,080 incidents per 100,000 population.
From an investment perspective, Forrest shows a gross rental yield of approximately 0.6%, rated as low yield. Property prices are above the state median ($5.0M/$1.0M), placing it in the premium segment. The price-to-income ratio of 28.6x is considered stretched. House prices have moved +25.1% year-on-year. Population growth of +1.3% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.