125/15 Irving Street, Phillip ACT 2606
125/15 Irving Street, Phillip ACT 2606
North-facing leafy outlook | 2019 build with double glazing | 90m² internal plus balcony | On-site lap pool, gym, spa
This unit presents a competitively strong proposition due to its combination of modern construction and premium owner-occupier finishes within a high-amenity complex. Its 2019 build date, north aspect, and superior specifications like double-glazing and Smeg appliances distinguish it from the majority of older Phillip stock. The generous internal space and extensive resort-style facilities cater directly to owner-occupiers seeking a low-maintenance lifestyle or investors targeting premium rental yields near the Woden commercial hub.
The decision hinges on accepting strata costs for premium amenities. Annual levies near $6,000 fund the pool, gym, and spa, a commercial trade-off for lifestyle and rental appeal. With recent growth in the suburb and a rental estimate aligning with the 5.5% suburb yield, this property is positioned for stable occupancy. It is a hold for an owner-occupier valuing convenience or an investor leveraging its modern edge in an older rental market.
Last sale was December 2017 for $475,000. Current estimates place value around $660,000 with a weekly rental estimate of $660-$680. This indicates sustained capital growth since its off-plan purchase, supporting the premium for a newer, well-appointed unit in this location.
Market Insight:
This suburb presents a nuanced opportunity, with its market currently in a corrective phase following a period of significant price adjustment. Recent trends indicate a softening in values, particularly for houses, while the unit market has demonstrated greater resilience. Demand appears anchored by investors, attracted by rental yields that remain comparatively robust, suggesting a steady income proposition despite the broader price recalibration. Future performance will hinge on the suburb’s ability to stabilise, with key constraints including a limited sales volume that can amplify market volatility and a lack of clear, proximate demand catalysts from major infrastructure or demographic shifts.