Bruce, 2617 ranked 85th in ACT when comparing growth in median property values or capital gain over the last 12 months. Bruce is one of 126 in our list for ACT
If we look at median property appreciation over just the last three months, Bruce has given property investors a paper return of -5.58%. This puts Suburb as 82 on a list of fastest fasting appreciating suburbs in ACT
On average over the past year, suburb has had 1.92 sales per month, which equates to 23 per year.
Property investors should expect to get $650 weekly from the median priced house in this suburb.
Bruce is in the bottom 20% 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 -8.97%.
Bruce,2617 has offered an average of -8.97% return per annum in house price rises to property investors over the last three years.
Bruce, 2617 is offering ACT ‘s 6th 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.
Advertised rents are around the $432.5 mark per week – giving a return of 6.34% based on the median price in Suburb
Information supplied by:
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.