Property investors who have had real estate in Campbell, 2612 should be relatively pleased with this ACT suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 10.00%
The five-year average increase in median property values for Campbell,2612 has given property investors a potential capital gain of 34.37% across each of those five years.
At number 25th of ACT’s most discounted properties, Campbell is in the middle of the state/territory when listing in order of most discounted to least.
Property investors should expect to get $750 weekly from the median priced house in this suburb.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Campbell has fallen somewhat when compared to the 5 year average annual rate.
Using the current median advertised rental of $302.5 and the average annual increase in value of a median property of 18.49%, investors should hope to achieve an overall return of 3.70%
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.”