Spence is a smaller suburb in Australian Capital Territory within the Unincorporated ACT local government area (postcode 2615). With a population of 2,587, the suburb has an established demographic with a median age of 38. Households earn a median income of $123K per year, with an average household size of 2.7 people. The most common occupations are professionals, clerical & administrative, managers. The top ancestries reported are Australian, English, Irish.
The median house price in Spence is $941,000, having increased 3.6% over the past year. Units have a median price of $644,000 (+7.1% YoY). The median weekly rent is $375 (Census 2021). This gives a gross rental yield of approximately 2.1%. The median monthly mortgage repayment is $2,120.
Public transport access includes 27 bus stops. The crime rate in the Unincorporated ACT LGA is below average at 3,054 incidents per 100,000 population.
From an investment perspective, Spence offers a gross rental yield of 2.1%, rated as low yield. Property prices are near the state median ($941K/$1.0M). The price-to-income ratio of 7.7x is considered moderate. House prices have moved +3.6% year-on-year.
Spence is a smaller suburb in Australian Capital Territory within the Unincorporated ACT local government area (postcode 2615). With a population of 2,587, the suburb has an established demographic with a median age of 38. Households earn a median income of $123K per year, with an average household size of 2.7 people. The most common occupations are professionals, clerical & administrative, managers. The top ancestries reported are Australian, English, Irish.
The median house price in Spence is $941,000, having increased 3.6% over the past year. Units have a median price of $644,000 (+7.1% YoY). The median weekly rent is $375 (Census 2021). This gives a gross rental yield of approximately 2.1%. The median monthly mortgage repayment is $2,120.
Public transport access includes 27 bus stops. The crime rate in the Unincorporated ACT LGA is below average at 3,054 incidents per 100,000 population.
From an investment perspective, Spence offers a gross rental yield of 2.1%, rated as low yield. Property prices are near the state median ($941K/$1.0M). The price-to-income ratio of 7.7x is considered moderate. House prices have moved +3.6% year-on-year.