Giving property investors a an average capital gain of 1.28% for the last year, Bruce, 2617 is the 1898th highest performer in Australia in this respect.
The five-year average increase in median property values for Bruce,2617 has given property investors a potential capital gain of 5.48% across each of those five years.
On average over the past year, suburb has had 2.25 sales per month, which equates to 27 per year.
With the median price for a house in Bruce being $770000 and the advertised rent reaching $625 the gross rental yield for property investors calculates out to be 4.22%
Bruce has had a pretty average year for property investment returns compared to the rest of ACT, giving investors a capital gain of 0.53% to date .
Across a shorter period, Bruce, 2617 has seen a median price increase of 0.53% over the last quarter.
Bruce, 2617 is offering ACT ‘s 2nd most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this ACT.
Advertised rents are around the $420 mark per week – giving a return of 5.72% based on the median price in Suburb
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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.
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.