With a capital gain of 2.10% for the last 12 months, Campbell, 2612 has performed for property investments than its average annual 6.04% property growth over the last 5 years.
Campbell,2612 was ranked 3439 in Australia by increase in median property value over the quarter.
Sellers are offering property buyers an average discount of -4.95% to buyers in Campbell at the moment, which is less than average for the rest of ACT.
A $640 per week rent on the median house gives suburb investors a gross yield of circa 3.18%, without taking into account capital value appreciation, which has been averaging out at 6.04%.
At number 1735th in the list of Australian suburbs ordered by increase in median house value over the last year, Campbell, 2612 is in the BOTTOM 10% with a property value increase of -48.11% recorded in median house prices.
While Campbell,2612 ranked number 43th in ACT for increase in median house value (annualised) increase, it is ranked 11th over the last 5 years.
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.”