129/7 Irving Street, Phillip ACT 2606
129/7 Irving Street, Phillip ACT 2606
High floor, northeast aspect | dual bath, dual car | resort amenity package | strong rental demand | established Woden precinct
This apartment holds a genuine competitive edge within the Phillip market. Level 11 positioning with a northeast aspect delivers elevated light and outlook that most local stock simply does not offer. The two-bedroom, two-bathroom, two-car configuration, combined with a storage cage and full amenity suite—pool, gym, BBQ, secure entry—places it clearly above entry-level product in the suburb. It serves best the professional owner-occupier or investor seeking a low-maintenance, high-appeal unit with strong tenant attraction, particularly given proximity to the Canberra Hospital and Woden’s employment and retail core. The 2019 purchase price and subsequent rental figure suggest a property that has held its income-producing capability well.
Value may be shaped by the building’s age relative to newer comparators in the immediate precinct, which could influence buyer perception of finish and strata longevity. The unusual block purpose classification on title records might warrant a closer look at the complex’s underlying land-use history, as this could affect long-term planning context. The northeast orientation and elevated floor are likely to support price resilience, while the dual parking and storage add practical appeal that broadens buyer appeal. Rental demand appears solid, with the property’s configuration and amenities aligning well with professional tenant preferences, though any shift in local supply or building condition could temper future growth.
|| Comparable Sales: 129/11 Irving Street sold $595,000; 42/9 Irving Street (2021 build) sold with rent $615/week | Property Price Band: $550,000–$650,000 | Value Drivers: high floor aspect, dual car/bath configuration, amenity-rich complex
Detailed Independent Property Report prepared by PropCred Analyst team for 129/7 Irving Street, Phillip ACT 2606
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
1
Income Risk
Execution Risk
2
URL has been copied successfully!
Market Insight
The suburb is in a correction phase: median house prices fell 14.09% over the past year to $545,500, while units declined a milder 3.19% to $532,450. Only 26 house sales were recorded, so liquidity is thin. Rental metrics indicate investor-driven demand: house yields are 5.12%, unit yields 5.68%, with weekly rents of $568 and $575 respectively. The 45-day median selling time points to balanced conditions, not distressed turnover. Buyers are likely yield-focused investors and renters priced out of tighter markets, though demographic and infrastructure data are insufficient to confirm a broader owner-occupier base. Future growth depends on rental strength and any reversal of the recent price fall, but the sharp decline and low sales volume are key constraints. The subdued unit price movement offers relative stability, yet the absence of supply and vacancy data limits confidence. Overall, this is a high-yield, low-liquidity market with clear affordability appeal and elevated price risk.
URL has been copied successfully!
PropCred Estimated Value
Comparable Sales: 129/11 Irving Street sold $595,000; 42/9 Irving Street (2021 build) sold with rent $615/week | Property Price Band: $550,000–$650,000 | Value Drivers: high floor aspect, dual car/bath configuration, amenity-rich complex
Bedrooms
2
Bathroom
2
Parking
2
Land
371m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
URL has been copied successfully!