With a capital gain of 10.55% for the last 12 months, Campbell, 2612 has performed for property investments than its average annual 5.99% property growth over the last 5 years.
Comparing Campbell,2612 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Campbell, 2612 is offering ACT ‘s 28th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this ACT.
At number 231 in a list of fastest selling suburbs, Campbell is in the TOP 10% of suburbs in Australia with an average of days on market 42.07 for properties listed there.
With the median price for a house in Campbell being $1100000 and the advertised rent reaching $675 the gross rental yield for property investors calculates out to be 3.19%
If you compare the increase in value of investment property in Campbell, 2612 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this ACT suburb was -43.90%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Campbell has increased when compared to the 5 year average annual rate.
In the last year 33 properties changed hands in Campbell, which puts it as the 30th most active market in ACT when comparing the number of sales per suburb.
Using the current median advertised rental of $300 and the average annual increase in value of a median property of 11.77%, investors should hope to achieve an overall return of 3.12%
Campbell is a centralised suburb, 2km south-east of the Canberra CBD, on the way to Canberra Airport. It is well located for residents working either in Canberra’s inner-south or inner-north and is more affordable than other inner suburbs in the area.Full summary
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Campbell is a centralised suburb, located 2km south-east of the Canberra CBD, on the way to Canberra Airport. It is well located for residents working either in Canberra’s inner-south or inner-north and is more affordable than other inner suburbs in the area.
A new ASIO building and a strong Defence Force presence in the area are driving prices upwards, along with a boutique shopping centre that is heavily patronised, quality restaurants, cafes and a view in some areas that extends right back over Canberra city and on to the Brindabella Ranges at the foot of the Snowy Mountains. Campbell is also next to the Mt Ainslie nature reserve and Lake Burley-Griffin on the other side.
Agents agree that the biggest driver is the location. Buyers are purchasing blocks, knocking down houses and building better homes on the property.
Greg Hedger from Luton properties says he sold a house to a couple for $780,000 in 2009 and at the time they were concerned they were gambling with a lot of money.
“They put a cracker house on the block,” says Hedger “and I know a nearby property just recently sold for $1.1 million. Now they’re very happy.”
Hedger believes the suburb will continue to grow in price, despite there being a current over-supply of houses on the market.
“It’s in transition. A lot of older people are moving out for a sea change or to retirement homes and upwardly mobile young couples are moving in.”
Streets such as Holmes Crescent and Cobby Street are steep and perfect for views. Other good streets are Gellibrand, Vasey and Blamey.
“You won’t find a bargain in Campbell,” says Kaylene King from LJ Hooker, who believes a house for the median price is a good deal. “A stand-alone hasn’t sold for under $700,000 in a while.”