Bruce is in the bottom 20% in ACT when comparing median price capital growth over the last year. Bruce gave property investors a dismal capital gain figure when compared to the rest of the state, with 0.50%.
Bruce,2617 has offered an average of 0.50% return per annum in house price rises to property investors over the last three years.
Our latest figures would indicate that property sellers in Bruce are currently offering property investors an average price cut of -5.09% below the asking price at the moment.
Often selling an investment property can take time, and in Bruce the average time real estate has been on the market is 51.91 days.
Renters in Suburb are facing rents around $7200 per annum or $600 every week.
Bruce has had a very poor year for property investment returns compared to the rest of ACT, giving investors a capital gain of -11.14% to date .
A -11.66% growth in median value for property investors in Bruce,2617 puts this suburb at number 59th in terms of best performing suburbs in ACT
Bruce2617 is located in ACT which offers an average discount of -4.04% to property investors. Bruce itself is showing figures that indicate -4.12% is the average achievable by property buyers investing in the suburb.
Located within the popular Belconnen district northwest of Canberra, Bruce is a prominent suburb 9km from Canberra’s CBD, featuring family homes of different sizes and styles and pockets of high-density apartment blocks and townhouses.Full summary
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Located within the popular Belconnen district northwest of Canberra, Bruce is a prominent suburb 9km from Canberra’s CBD, featuring family homes of different sizes and styles and pockets of high-density apartment blocks and townhouses.Close
Enveloping a business hub dominatedby the University of Canberra, the Australian Institute of Sport and the Canberra Instituteof Technology, Bruce is home to thousands of students, ensuring ongoing rental demand.
And its recent price growth has seen developers scrambling to meet the needs of the influx of renters.
Real estate agent Peter Norton-Baker from Century 21 Capital in Forrest says that while Bruce’s growth over the past 12 months has been admirable, the new apartment developments haven’t had a positive impact, evidenced by a flatlined unit value in the past year.
This is despite the fact that the average age of Bruce’s residents is 26, and half its population attend one of Bruce’s many educational institutes.
“It’s firm for houses but not so good for apartments. There’s a glut of apartments,” confirms Norton-Baker.
That said, he believes the market will be strong in 2016. Bruce’s top-billing homes have a price tag of $1.5m, while at the entry-level end properties are priced from the low $300,000s.