716/120 Eastern Valley Way, Belconnen ACT 2617
716/120 Eastern Valley Way, Belconnen ACT 2617
Compact 1-bed high-rise | Level 8 with pool and parking | Walkable Belconnen Town Centre | Newer 2020 tower | Investor-demand profile
A compact 1-bed format is offered on level 8 of the Wayfarer tower, with parking, storage, and pool access included. The 2020 completion and updated finishes set this unit apart from older Belconnen stock. Its position in the Town Centre provides walkable access to Westfield, dining, and transport, which supports strong rental demand. This property is best suited to investors, first-home buyers, and downsizers seeking low-maintenance living. The unit is not a premium offer, but it is coherent and practical for that buyer group.
Value may be influenced by body corporate fees, which are substantial in this building, and by the aspect of this specific level 8 unit. The compact layout might narrow the buyer pool compared with 2-bed competitors. These factors may temper price growth, though consistent investor demand could offset that. The subject unit’s price is best judged against 2-bed sales in the same building.
>>Comparable Sales: 1601/120 Eastern Valley Way sold $495,000 in Feb 2024 as a 2-bed | Property Price Band: $400K-$500K | Value Drivers: updated condition, parking and storage, pool and high-rise amenity
Detailed Independent Property Report prepared by PropCred Analyst team for 716/120 Eastern Valley Way, Belconnen ACT 2617
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
Income Risk
1
Execution Risk
1
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Market Insight
Belconnen, Canberra’s north-west commercial hub, combines Westfield retail infrastructure and arterial bus links to the CBD. Demand is led by young professionals, investors and first-home buyers, drawn to gross yields of 5.82% for houses and 6.09% for units, a 0.97% vacancy rate, and high rental demand. Median house prices sit at $602,500, down 7.87% over the year, while median units are $470,000, off 2.08%. Houses spend 71 days on market, with just 27 annual sales indicating thin turnover. Employment in government and retail, university proximity and strong school catchments support rental demand. However, rate sensitivity is evident in the price decline, and affordability is stretched against competing Canberra suburbs. Tight supply, reflected in low sales volume, may constrain activity but offers little near-term reprieve from price correction.
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PropCred Estimated Value
Bedrooms
2
Bathroom
2
Parking
1
Land
2900m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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