If you compare the increase in value of investment property in Campbell, 2612 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this ACT suburb was 13.31%.
If we look at median property appreciation over just the last three months, Campbell has given property investors a paper return of -0.83%. This puts Suburb as 68 on a list of fastest fasting appreciating suburbs in ACT
At number 19th of ACT’s most discounted properties, Campbell is in the bottom 40% of the state/territory when listing in order of most discounted to least.
A $772.5 per week rent on the median house gives suburb investors a gross yield of circa 3.35%, without taking into account capital value appreciation, which has been averaging out at 5.65%.
ACT has seen average median house prices change by 2.21% which means that Campbell, 2612 has done well for property investors by showing a capital gain of 18.42% over the last year
Comparing Campbell,2612 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
On average over the past year, suburb has had 2.92 sales per month, which equates to 35 per year.
With the median price for a house in Campbell being $900000 and the advertised rent reaching $325 the gross rental yield for property investors calculates out to be 1.88%
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.”