With a capital gain of 9.26% for the last 12 months, Campbell, 2612 has performed for property investments than its average annual 5.72% property growth over the last 5 years.
A 35.73% growth in median value for property investors in Campbell,2612 puts this suburb at number 71th in terms of best performing suburbs in ACT
LACK OF BUYER INTEREST may well be the reason that Campbell is offering property investors an average of -3.63. This rate of discount on properties puts Suburb at number 53th in terms of most discounted suburbs in ACT
At number 979 in a list of fastest selling suburbs, Campbell is in the bottom 20% of suburbs in Australia with an average of days on market 97.2 for properties listed there.
Using the current median advertised rental of $780 and the average annual increase in value of a median property of 5.72%, investors should hope to achieve an overall return of 3.35%
Over the last year, property investments in Campbell, 2612 have given investors a capital gain of 40.07%. This compares very favourably with the 3.14% for ACT as a whole.
Comparing Campbell,2612 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
With the median price for a house in Campbell being $839000 and the advertised rent reaching $340 the gross rental yield for property investors calculates out to be 2.11%
Campbell is a centralised suburb, 2km south-east of the Canberra CBD, on the way to Canberra Airport. It is well located for residents working either in Canberra’s inner-south or inner-north and is more affordable than other inner suburbs in the area.Full summary
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Campbell is a centralised suburb, located 2km south-east of the Canberra CBD, on the way to Canberra Airport. It is well located for residents working either in Canberra’s inner-south or inner-north and is more affordable than other inner suburbs in the area.
A new ASIO building and a strong Defence Force presence in the area are driving prices upwards, along with a boutique shopping centre that is heavily patronised, quality restaurants, cafes and a view in some areas that extends right back over Canberra city and on to the Brindabella Ranges at the foot of the Snowy Mountains. Campbell is also next to the Mt Ainslie nature reserve and Lake Burley-Griffin on the other side.
Agents agree that the biggest driver is the location. Buyers are purchasing blocks, knocking down houses and building better homes on the property.
Greg Hedger from Luton properties says he sold a house to a couple for $780,000 in 2009 and at the time they were concerned they were gambling with a lot of money.
“They put a cracker house on the block,” says Hedger “and I know a nearby property just recently sold for $1.1 million. Now they’re very happy.”
Hedger believes the suburb will continue to grow in price, despite there being a current over-supply of houses on the market.
“It’s in transition. A lot of older people are moving out for a sea change or to retirement homes and upwardly mobile young couples are moving in.”
Streets such as Holmes Crescent and Cobby Street are steep and perfect for views. Other good streets are Gellibrand, Vasey and Blamey.
“You won’t find a bargain in Campbell,” says Kaylene King from LJ Hooker, who believes a house for the median price is a good deal. “A stand-alone hasn’t sold for under $700,000 in a while.”