Over the last year, property investments in Bruce, 2617 have given investors a capital gain of 3.89%. This compares badly with the 6.75% for ACT as a whole.
If we look at median property appreciation over just the last three months, Bruce has given property investors a paper return of 19.61%. This puts Suburb as 2 on a list of fastest fasting appreciating suburbs in ACT
At number 17th of ACT’s most discounted properties, Bruce is in the bottom 30% of the state/territory when listing in order of most discounted to least.
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 -4.12% to date .
A -2.98% growth in median value for property investors in Bruce,2617 puts this suburb at number 57th in terms of best performing suburbs in ACT
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Bruce, 2617. Typically our figures indicate that -4.19% is being offered, which puts this ACT suburb at 995th most discounted overall in Australia.
Advertised rents are around the $400 mark per week – giving a return of 5.10% based on the median price in 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.