With a capital gain of 5.10% for the last 12 months, Campbell, 2612 has performed for property investments than its average annual 5.55% 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
Campbell2612 is located in ACT which offers an average discount of -4.46% to property investors. Campbell itself is showing figures that indicate -4.68% is the average achievable by property buyers investing in the suburb.
A $660 per week rent on the median house gives suburb investors a gross yield of circa 3.28%, without taking into account capital value appreciation, which has been averaging out at 5.55%.
Using the current median advertised rental of $300 and the average annual increase in value of a median property of 14.59%, investors should hope to achieve an overall return of 3.63%
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
Information supplied by:
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.”