Suburb Profile Report for Bruce ACT (2617)

Bruce House: Median price $770,000, Annual capital growth 3.04%, Number of sales 27, Weekly median advertised rent $625

Bruce Unit: Median price $382,000, Annual capital growth 0.14%, Number of sales 91, Weekly median advertised rent $420

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Jun 2019 as supplied by CoreLogic. Data is reported to the period ending Mar 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

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

YIP MAG Information supplied by:

YIP MAG
February 2016

M
O

W
E

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.

Metrics i HOUSE UNIT
$770,000 $382,000
-3.08% 0.53%
1.28% 0.53%
3.04% 0.14%
$625 $420
27 91
4.22% 5.72%
48.882355 84.91428

Source: Monthly data update for Jun 2019 as supplied by CoreLogic. Data is reported to the period ending Mar 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Bruce ACT
Demographics
Total population 6389
Median household income ($/weekly) 2080
Median age of persons 26
Median housing loan repayment ($/monthly) 2167
Average household size 2.4
  • Census Count Percent(%)
    15-19 years 658 10.3
    20-24 years 1683 26.3
    25-34 years 1505 23.5
    35-44 years 560 8.8
    45-54 years 475 7.4
    Others 1510 23.6
    Age Group
    Census Count Percent(%)
    Not Married 1742 46.1
    Registered Married 1553 41.1
    Defacto Relationship 487 12.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 3426 62.7
    Croatia 489 9.0
    Indonesia 171 3.1
    United Kingdom 135 2.5
    Other 394 7.2
    Others 846 15.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 256 4.9
    Christianity 2585 49.5
    Hinduism 174 3.3
    Islam 224 4.3
    No Religion 1911 36.6
    Others 73 1.4
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 233 13.8
    $2,000-$2,499 190 11.2
    $2,500-$2,999 228 13.5
    $3,000-$3,499 168 9.9
    $4,000 or more 198 11.7
    Others 676 39.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2181 44.4
    Not in the labour force 1308 26.6
    Employed, worked part-time 1003 20.4
    Employed, away from work 230 4.7
    Unemployed, looking for work 192 3.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 488 14.3
    Professionals 1183 34.6
    Community & personal service workers 437 12.8
    Clerical & administrative workers 510 14.9
    Sales 337 9.9
    Others 460 13.5
    Occupation
    Census Count Percent(%)
    Infants/Primary 219 9.6
    Secondary 177 7.7
    Technical or Further Educational Institution 157 6.9
    University or other Tertiary Institutions 1623 71.1
    Other type of educational institution 56 2.5
    Others 52 2.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2076 47.0
    Flat, unit or apartment 1172 26.5
    Semi-detached, row or terrace house, townhouse 1171 26.5
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 922 49.4
    Being purchased 524 28.1
    Fully owned 375 20.1
    Other tenure type 44 2.4
    Tenure Type
Census 2011, ABS
Chart Table