ACT has seen average median house prices change by 1.70% which means that Campbell, 2612 has done well for property investors by showing a capital gain of -9.96% over the last year
If we look at median property appreciation over just the last three months, Campbell has given property investors a paper return of -10.10%. This puts Suburb as 86 on a list of fastest fasting appreciating suburbs in ACT
Residents and property investors in Campbell have been waiting around 79.28 days to sell a property.
The ACT suburb of Campbell, 2612 is in the Unincorporated ACT local government area.
ACT has seen average median house prices change by -0.28% which means that Campbell, 2612 has not done well for property investors by showing a capital gain of 21.51% over the last year
While Campbell,2612 ranked number 6th in ACT for increase in median house value (annualised) increase, it is ranked 43th over the last 5 years.
State is the 8th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.10% offered to property buyers. Sellers in Campbell itself are offering an average vendor discount of -7.65% to real estate investors.
Renters in Suburb are facing rents around $29120 per annum or $560 every week.
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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.”