15 Florey Drive, Macgregor ACT 2615
15 Florey Drive, Macgregor ACT 2615
Large block | 1973 house | Bushfire overlay | Single-level | Established suburb
The property’s competitive edge lies in its generous land holding of roughly 870 square metres, which is uncommon for a standard three-bedroom house in this part of Canberra. The single-storey layout, built in 1973, offers straightforward living with floorboards, a balcony, and a fully fenced yard. It is best suited to a family or investor seeking space for outdoor use, possible future extension, or renovation. The house sits within a quiet, established suburb with good school access, and its plain but functional condition means a buyer can add value through updates without overcapitalising on a premium finish.
The bushfire overlay is the main factor that may shape your approach to renovation or redevelopment, as it can introduce additional planning requirements. The property’s age suggests that structural systems, insulation, and electrical or plumbing work might need attention, which could affect your budget. The rental estimate of $635–$670 per week points to solid demand, but the house’s value will most likely be driven by land size and location rather than the dwelling itself. Weigh the cost of modernising against the benefit of holding a large block in a stable, family-oriented suburb.
|| Comparable Sales: 3-bed renovated house in Florey sold $850K; 4-bed house in Macgregor sold $920K | Property Price Band: $780K–$880K | Value Drivers: land size, single-level layout, renovation potential
Detailed Independent Property Report prepared by PropCred Analyst team for 15 Florey Drive, Macgregor ACT 2615
Checks found:
Value Risk
2
Liquidity Risk
1
Planning Risk
1
Income Risk
1
Execution Risk
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Market Insight
Macgregor ACT 2615, in northwest Canberra, is an established family suburb with good road and bus links to Belconnen and Civic. Demand is driven by middle-income families, with a high share of mortgaged owners and a moderate renter base. House prices sit around $823,000, with annual growth of 2–4.5% across sources, while units range from $561,000 to $630,000 with mixed growth. Houses sell in about 28–37 days, with annual sales of 126–137. Rental demand is firm: vacancy under 1% and house yields near 4.3%. Future drivers include consistent owner-occupier demand and low rental supply. Key risks: affordability constraints—prices near $823,000 for middle-income households—and rate sensitivity given high mortgage prevalence. Stock variance up 23.5% signals possible supply fluctuations.
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PropCred Estimated Value
Comparable Sales: 3-bed renovated house in Florey sold $850K; 4-bed house in Macgregor sold $920K | Property Price Band: $780K–$880K | Value Drivers: land size, single-level layout, renovation potential
Bedrooms
3
Bathroom
1
Parking
1
Land
869m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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