Suburb Profile Report for Bruce ACT (2617)

Bruce House: Median price $905,750, Annual capital growth 6.07%, Number of sales 24, Weekly median advertised rent $575

Bruce Unit: Median price $417,000, Annual capital growth 1.46%, Number of sales 113, Weekly median advertised rent $400

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Property investors who have had real estate in Bruce, 2617 should be ok 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 3.51%

Taking the average capital gain, or increase in median house value, Bruce,2617 has racked up an average of 3.51% over the period. This ranks it number 1018th in the whole country for real estate investors looking at median house price increases.

On average over the past year, suburb has had 2.00 sales per month, which equates to 24 per year.

Situated 5.14km from the CBD, Bruce is one of Unincorporated ACT localities in the postcode 2617.

With a capital gain of -1.88% for the last 12 months, Bruce, 2617 has performed for property investments than its average annual 1.46% property growth over the last 5 years.

When looking at the potential capital gains offered to property investors over the last 3 years, Bruce comes in at number 51th in ACT.

Property investors looking for a bargain in Bruce should be aiming for at least -4.54% off the asking price, which is the average vendor discount being achieved at the moment.

Residents and property investors in Bruce have been waiting around 82.71 days to sell a property.

Property investors should expect to get $400 weekly from the median priced house in this suburb.

YIP MAG Information supplied by:

YIP MAG
February 2016

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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.Full summary

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.

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.

Close
HOUSE UNIT
$905,750 $417,000
3.51% -1.88%
3.51% -1.88%
6.07% 1.46%
$575 $400
24 113
3.30% 4.99%
N/A 82.71

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 6389
Median household income ($/weekly) 2080
Median age of persons 26
Median housing loan repayment ($/monthly) 2167
Average household size 2.4
  • Census Count Percent(%)
    15-19 years 658 10.3
    20-24 years 1683 26.3
    25-34 years 1505 23.5
    35-44 years 560 8.8
    45-54 years 475 7.4
    Others 1510 23.6
    Age Group
    Census Count Percent(%)
    Not Married 1742 46.1
    Registered Married 1553 41.1
    Defacto Relationship 487 12.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 3426 62.7
    Croatia 489 9.0
    Indonesia 171 3.1
    United Kingdom 135 2.5
    Other 394 7.2
    Others 846 15.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 256 4.9
    Christianity 2585 49.5
    Hinduism 174 3.3
    Islam 224 4.3
    No Religion 1911 36.6
    Others 73 1.4
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 233 13.8
    $2,000-$2,499 190 11.2
    $2,500-$2,999 228 13.5
    $3,000-$3,499 168 9.9
    $4,000 or more 198 11.7
    Others 676 39.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2181 44.4
    Not in the labour force 1308 26.6
    Employed, worked part-time 1003 20.4
    Employed, away from work 230 4.7
    Unemployed, looking for work 192 3.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 488 14.3
    Professionals 1183 34.6
    Community & personal service workers 437 12.8
    Clerical & administrative workers 510 14.9
    Sales 337 9.9
    Others 460 13.5
    Occupation
    Census Count Percent(%)
    Infants/Primary 219 9.6
    Secondary 177 7.7
    Technical or Further Educational Institution 157 6.9
    University or other Tertiary Institutions 1623 71.1
    Other type of educational institution 56 2.5
    Others 52 2.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2076 47.0
    Flat, unit or apartment 1172 26.5
    Semi-detached, row or terrace house, townhouse 1171 26.5
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 922 49.4
    Being purchased 524 28.1
    Fully owned 375 20.1
    Other tenure type 44 2.4
    Tenure Type
Census 2011, ABS
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Recent sales & rentals