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.
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
Information supplied by:
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.