If you compare the increase in value of investment property in Campbell, 2612 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this ACT suburb was -11.49%.
If we look at median property appreciation over just the last three months, Campbell has given property investors a paper return of -5.00%. This puts Suburb as 89 on a list of fastest fasting appreciating suburbs in ACT
Renters in Suburb are facing rents around $38220 per annum or $735 every week.
Investment property in Campbell has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -16.08%
Taking the average capital gain, or increase in median house value, Campbell,2612 has racked up an average of -16.08% over the period. This ranks it number 147th in the whole country for real estate investors looking at median house price increases.
On average over the past year, suburb has had 4.50 sales per month, which equates to 54 per year.
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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.”