Bruce is in the bottom 10% in ACT when comparing median price capital growth over the last year. Bruce gave property investors a dismal capital gain figure when compared to the rest of the state, with -5.14%.
A 23.07% growth in median value for property investors in Bruce,2617 puts this suburb at number 39th in terms of best performing suburbs in ACT
Bruce, 2617 is offering ACT ‘s 12th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 20% of discounts offered by this ACT.
The ACT suburb of Bruce, 2617 is in the Unincorporated ACT local government area.
Bruce has had a very poor year for property investment returns compared to the rest of ACT, giving investors a capital gain of -14.59% to date .
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Bruce has fallen somewhat when compared to the 5 year average annual rate.
At number 25th of ACT’s most discounted properties, Bruce is in the middle of the state/territory when listing in order of most discounted to least.
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.Full summary
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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.Close
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.