Question 1

Is Deakin a nice place to live?

Accepted Answer

Deakin is a delightful suburb that offers a serene and sophisticated lifestyle, making it a wonderful place to call home. Its charming, leafy streets and elegant homes create a picturesque setting that appeals to families and professionals alike. The suburb exudes a peaceful vibe, yet it is conveniently located just a short distance from the bustling heart of Canberra, allowing residents to enjoy the best of both worlds. With a strong sense of community, Deakin is known for its welcoming atmosphere, making it an ideal place for families to settle and thrive.

Living in Deakin means having easy access to a range of amenities, including excellent schools, parks, and recreational facilities. The suburb's proximity to Canberra's cultural, educational, and governmental institutions adds to its appeal, providing residents with a wealth of opportunities for work and leisure. Safety is generally not a concern in this well-established area, allowing families to enjoy a secure environment. The suburb's green spaces offer a perfect backdrop for outdoor activities, while local cafes and shops provide convenient options for dining and shopping.

However, living in Deakin does come with some trade-offs. The suburb's prestigious status and desirable location mean that property prices can be high, which may be a consideration for those on a tighter budget. Additionally, while Deakin offers a tranquil lifestyle, it may not have the same level of nightlife or entertainment options as more urban areas. Despite these trade-offs, Deakin's blend of tranquility, accessibility, and community spirit makes it a highly sought-after suburb for those seeking a high-quality lifestyle in Canberra.

Question 2

Is it expensive to live in Deakin?

Accepted Answer

Living in Deakin can be quite expensive, especially when you consider the current property market. The median house price is a hefty $2,475,000, which is significantly higher than many other areas in Canberra. Renting is also on the pricier side, with the average rent for houses at $980 per week and for units at $590 per week. These figures suggest that a significant portion of your income would go towards housing if you choose to live in Deakin.

In terms of income, the average wage in Deakin aligns with the Canberra average, which is about $90,000 annually for full-time adult ordinary earnings. While the median total household income in Deakin is $3,117 per week, the high property prices and rents mean that even with a decent income, living in this suburb could strain your budget. If you are thinking of living in Deakin, it's important to weigh these costs against your financial situation. Despite the expenses, Deakin offers a desirable location with its proximity to Canberra's central amenities, making it a sought-after suburb for those who can afford it.

Question 3

Is Deakin a good place to invest?

Accepted Answer

Deakin is showing some impressive numbers that make it an attractive option for property investors. Over the past year, the suburb has experienced a significant surge in property values, with median house values increasing by 30.1% and unit values skyrocketing by 91.2%. This kind of growth indicates a strong demand for properties in the area, which is always a positive sign for potential investors.

While the rental market for houses in Deakin has seen a modest increase of 5.6% over the last year, the rental prices for units have remained stable. This stability in unit rents, despite the substantial increase in unit values, suggests that there might be a growing interest in purchasing units, possibly driven by owner-occupiers or investors betting on future capital gains. The combination of high capital growth and steady rental income potential makes Deakin a suburb worth considering for those looking to invest in real estate.

	Houses	Units
Median price Past 3 months	$2.21M	N/A
Change in value Past 12 months	29.5%	34.4%
Sold Past 3 months	20	2
Median days on market Past 12 months	89	N/A
Average rent Past 12 months	$985	$600
Change in rent Past 12 months	5.9%	2.0%

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