Bruce, 2617 ranked 29th 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
A 33.41% growth in median value for property investors in Bruce,2617 puts this suburb at number 5th in terms of best performing suburbs in ACT
The ACT suburb of Bruce, 2617 is in the Unincorporated ACT local government area.
Property investors who have had real estate in Bruce, 2617 should be pleased with this ACT suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 12.36%
Taking the average capital gain, or increase in median house value, Bruce,2617 has racked up an average of 12.36% over the period. This ranks it number 1250th in the whole country for real estate investors looking at median house price increases.
Bruce2617 is located in ACT which offers an average discount of -3.74% to property investors. Bruce itself is showing figures that indicate -3.34% is the average achievable by property buyers investing in the suburb.
Bruce, 2617’s gross rental yield is 5.40%
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.