Over the last year, property investments in Bruce, 2617 have given investors a capital gain of 12.79%. This compares very favourably with the 5.48% for ACT as a whole.
When looking at the potential capital gains offered to property investors over the last 3 years, Bruce comes in at number 21th in ACT.
Bruce, 2617’s gross rental yield is 4.12%
Giving property investors a a stable capital gain of 10.70% for the last year, Bruce, 2617 is the 344th highest performer in Australia in this respect.
Across a shorter period, Bruce, 2617 has seen a median price increase of 2.14% over the last quarter.
Property buyers and investors in Bruce 2617 should be seeing an average reduction in asking price of around -2.79% . This means that Bruce is holding prices well when compared to other suburbs in ACT.
Residents and property investors in Bruce have been waiting around 61.8684 days to sell a property.
The ACT suburb of Bruce, 2617 is in the Unincorporated ACT local government area.
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.