803/120 Eastern Valley Way, Belconnen ACT 2617
803/120 Eastern Valley Way, Belconnen ACT 2617
2 bed / 2 bath high-rise unit | 74 m² with open car space | Wayfarer tower, Belconnen | Modern finishes likely | Strong rental demand near UC and Westfield
This unit offers a practical two-bedroom, two-bathroom layout in a newer high-rise tower, which is less common in Belconnen’s older apartment stock. The 74 m² internal area provides more usable space than typical compact units, and the open car space adds convenience. Being in the Wayfarer building, it benefits from lift access, intercom security, and shared amenities like a pool and sky lounge, though exact finishes for this unit are not fully confirmed. It serves well as a low-maintenance home for owner-occupiers or as a rental investment targeting professionals and students near University of Canberra, Westfield, and public transport. The estimated rent of $620 per week suggests solid income potential, and the property’s modern build and central location make it attractive to downsizers and first-time buyers seeking functional space without sprawling upkeep.
The property’s value may be influenced by its floor level and aspect, which are not confirmed; higher floors with lake or east-facing views tend to command a premium in this tower. The lack of verified balcony or storage for this specific unit could affect appeal, though many comparable apartments include these features. Strata fees are not disclosed, and these can vary significantly in high-rise buildings, impacting overall holding costs. The estimated value of $497,000 aligns with recent nearby sales, but the final price may hinge on the unit’s exact presentation and any upgrades. Buyers should weigh the convenience of the location against potential noise from nearby commercial areas and traffic, which might vary by floor.
|| Comparable Sales: 1203/120 Eastern Valley Way sold $460,000 (2/2/1, 79 m²) | Property Price Band: $450K–$550K | Value Drivers: Floor level and views, modern fit-out condition, rental yield potential
Detailed Independent Property Report prepared by PropCred Analyst team for 803/120 Eastern Valley Way, Belconnen ACT 2617
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
Income Risk
2
Execution Risk
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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
Comparable Sales: 1203/120 Eastern Valley Way sold $460,000 (2/2/1, 79 m²) | Property Price Band: $450K–$550K | Value Drivers: Floor level and views, modern fit-out condition, rental yield potential
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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