131/11 Irving Street, Phillip ACT 2606

| Cooling market risk | Negative growth comparables | High vacancy supply | Overvalued vs recent sales | This unit carries material downside risk. Comparable sales within the building show two-year holding periods with annual capital losses of 1.28% to 3.07%, which suggests local oversupply is compressing values. The 2023 purchase price of $559k followed by current estimates of $612k–$620k may imply some recovery, but the comparable evidence points to a buyer paying a premium for low inventory rather than genuine demand. The property functions well as a core hold for rental income-projected $680/week yields roughly 5.7% on a mid-range $620k entry-but capital growth is unlikely in the short term. The competitive strength here is the building’s amenity: two open car spaces, gym, and pool in a central Phillip location with strong school catchment and FTTP connectivity. For a buyer seeking a stable rental hold with minimal vacancy risk, the unit’s 88m² internal area and 60% owner-occupancy rate reduce strata management friction. It serves best as a long-term passive income position, not a flip or growth play. To move forward, secure a building inspection to confirm no special levies pending and compare against the sub-$600k recent sales; if negotiation lands closer to $599k, the yield justifies entry, but at current listing levels, wait for a price correction or a seller motivated by holding costs.