Suburb Profile Report for Bruce ACT (2617)

Bruce House: Median price $909,000, Annual capital growth 6.23%, Number of sales 25, Weekly median advertised rent $600

Bruce Unit: Median price $407,500, Annual capital growth 1.17%, Number of sales 135, Weekly median advertised rent $400

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

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

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
Metrics i HOUSE UNIT
$909,000 $407,500
19.61% -1.81%
3.89% -4.12%
6.23% 1.17%
$600 $400
25 135
3.43% 5.10%
52.8 81.98

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
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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
Chart Table
Recent sales & rentals