Property investors who have had real estate in Bruce, 2617 should be unhappy with this ACT suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -6.42%
Bruce,2617 has offered an average of -6.42% return per annum in house price rises to property investors over the last three years.
Bruce, 2617’s gross rental yield is 3.54%
Bruce is in the TOP 30% in ACT when comparing median price capital growth over the last year. Bruce gave property investors a good capital gain figure when compared to the rest of the state, with 6.25%.
Comparing Bruce,2617 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
At number 18th of ACT’s most discounted properties, Bruce is in the middle of the state/territory when listing in order of most discounted to least.
Property investors should expect to get $390 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
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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.