Giving property investors a a poor capital gain of -15.43% for the last year, Bruce, 2617 is the 4024th highest performer in Australia in this respect.
Over the longer term, Bruce has seen property prices show investors a 8.82% return over the last 3 years. This is worse than over the last 12 months
Renters in Suburb are facing rents around $7200 per annum or $600 every week.
At number 1398th in the list of Australian suburbs ordered by increase in median house value over the last year, Bruce, 2617 is in the BOTTOM 30% with a property value increase of -4.43% recorded in median house prices.
A 4.59% growth in median value for property investors in Bruce,2617 puts this suburb at number 58th in terms of best performing suburbs in ACT
Bruce, 2617 is offering ACT ‘s 17th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this ACT.
Often selling an investment property can take time, and in Bruce the average time real estate has been on the market is 89.45 days.
With the median price for a house in Bruce being $410000 and the advertised rent reaching $395 the gross rental yield for property investors calculates out to be 5.01%
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.