Campbell has had a pretty good year for property investment returns compared to the rest of ACT, giving investors a capital gain of 5.49% to date .
If we look at median property appreciation over just the last three months, Campbell has given property investors a paper return of 2.46%. This puts Suburb as 27 on a list of fastest fasting appreciating suburbs in ACT
The most recent median price for Campbell is $1250000, with sellers offering an average of -2.00% off the asking price.
At number 2769 in a list of fastest selling suburbs, Campbell is in the bottom 40% of suburbs in Australia with an average of days on market 86.6 for properties listed there.
Renters in Suburb are facing rents around $39000 per annum or $750 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 -24.46%
A 3.36% growth in median value for property investors in Campbell,2612 puts this suburb at number 52th in terms of best performing suburbs in ACT
Property investors looking for a bargain in Campbell should be aiming for at least -2.44% off the asking price, which is the average vendor discount being achieved at the moment.
Property investors should expect to get $520 weekly from the median priced house in this suburb.
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.”