Spence

Spence, ACT 2615 is a suburb with a total population of 2587 residents. The age group with the highest representation is individuals aged between 5 to 19 years, followed by those aged between 45 to 64 years. The suburb offers a mix of occupations, with the top three being professionals, managers, and technicians/tradeworkers. The median household income is above average, indicating a relatively affluent community. The commute to work is primarily by motor vehicle, while a significant number of residents also work from home. For House properties in Spence, the sale price distribution shows a notable IQR ratio, suggesting potential opportunities for renovation and value appreciation. The market absorption rate is high, indicating strong demand that may lead to price growth. Additionally, the online search interest is substantial, hinting at ongoing buyer demand. With a median growth rate of 5.9%, there is potential for capital appreciation. On the other hand, Unit properties have a lower sale price IQR ratio and a higher stock on market rate, making Houses a potentially more lucrative investment option in this suburb. Spence, ACT 2615 offers a desirable lifestyle with a range of amenities and a strong sense of community. The suburb presents promising investment opportunities, particularly in House properties, due to factors such as high buyer demand, good median growth rates, and a conducive market for renovations and value additions. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022