8 Ted Richards Street, Casey ACT 2913
8 Ted Richards Street, Casey ACT 2913
Compact townhouse | leased at $1,440/wk | 250m² land | EER 6.0 | investor-focused
This townhouse holds a clear competitive edge in Casey through its compact, low-maintenance format on a 250m² parcel—rare for a four-bedroom configuration in a suburb dominated by larger freestanding homes. The current lease at $1,440 per week signals strong rental demand, likely driven by the fully furnished presentation and proximity to Gungahlin services. It serves investors seeking immediate income, downsizers wanting single-level convenience without yard upkeep, and first-home buyers priced out of detached stock. The EER 6.0 rating is respectable for the area, and the duplex design offers a practical layout that maximizes the 162m² internal space.
The property’s value may be shaped by its smaller land footprint compared to typical Casey houses, which could limit capital growth relative to freestanding homes. The single-car space might constrain appeal for families with multiple vehicles, though the furnished lease could attract premium tenants. The 2020 purchase price of $560,000 provides a baseline, but current market conditions and the strong rental yield may support a higher figure. Buyers should weigh the trade-off between immediate income and long-term land appreciation, and consider whether the furnished arrangement aligns with their intended use.
|| Comparable Sales: 6 Ted Richards Street (4/2/1, $779k under offer) | Property Price Band: $800K–$900K | Value Drivers: current lease income, furnished condition, compact land size, EER rating
Detailed Independent Property Report prepared by PropCred Analyst team for 8 Ted Richards Street, Casey ACT 2913
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
2
Income Risk
1
Execution Risk
1
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Market Insight
Casey, in Canberra’s northwest Gungahlin district, is a family-oriented suburb. Demand is led by young families and professionals commuting to Canberra, with government deposit schemes drawing first-home buyers. House prices have settled around $927,500–$947,500; annual growth is uneven at 6.46% and -0.95%, while units sit at $614,000 after a -1.44% decline. Houses sell in about 42 days, with 102–104 annual sales and a 4.1% gross yield; weekly rents reach $680, or $798 for four-bedrooms. Supply is tight, supporting prices. Future growth rests on continued residential development and northwest ACT infrastructure, but affordability is stretched and interest-rate sensitivity is a key risk.
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PropCred Estimated Value
Comparable Sales: 6 Ted Richards Street (4/2/1, $779k under offer) | Property Price Band: $800K–$900K | Value Drivers: current lease income, furnished condition, compact land size, EER rating
Bedrooms
4
Bathroom
2
Parking
1
Land
250m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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