Demand For Homes Stays High In 1 State While The Rest Fall Back
Rising interest rates have eased demand from potential buyers, which has been reflected in the slowing of home price gro...
CAMPBELL, 2612 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in ACT have risen as a whole, pulling CAMPBELL, 2612 values up and netting property investors a capital gain of 22.43% for the past year.
Investors saw the median home price rise to $1,665,000.
Profits due to an upward trend in home prices in the suburb averaged 11.07% per annum over a 3-year period.
CAMPBELL now ranks at the 79th place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in CAMPBELL are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $900 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In CAMPBELL, homes and units usually stay on listing for an average of 65.5 days.
In 2016, 40 properties were sold in CAMPBELL during the past year, making it the 63rd most active market in ACT based on total real estate transactions.
Campbell is a suburb in Canberra, Australian Capital Territory situated on the foothills of Mount Ainslie. Gazetted in 1956, the area where Campbell currently stands used to be called Duntroon, which was previously owned and established by merchant Robert Campbell. Campbell built a homestead in the early 19th century in Duntroon. The suburb is known today as the headquarters of a number of military agencies and its street names were taken after defence personnel.
Things to do in Campbell
Campbell is the home of the Australian War Memorial, which bagged the top spot last year for best landmark in Australia. Built in honour of those who fought for the country, the memorial serves to remind locals of the wartime efforts and sacrifices of Australian soldiers and how the war impacted Australian life. The memorial houses a shrine, museum, and a research centre. Other nearby points of interest include the Anglican Church of St. John the Baptist, which was erected by the Campbell family, the Blundell's Cottage, and the Yarralumla House.
Campbell's population numbers 4,997, consisting of nearly 900 families. Nearly 1,600 of their humble abodes are private dwellings, with three-bedroom homes being the most popular. Rental properties are quite common in Campbell, with 37 per cent of the properties rented. Thirty-five per cent of the properties were fully owned, while 25 per cent were being purchased. Market data show that property growth in Campbell is on a steady rise, reflecting a 10 per cent increase over the last quarter, and 30 per cent increase over a three-year period.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||22.43%||29.82%|
|Median 3 years||33.2%||49.74%|
|Median 5 years||61.26%||63.43%|
|10 years average annual||6.94%||6.33%|
|Weekly media advert. rent||$900||$580|
|Time on Market||65.5 days||68.8 days|
|Gross Rental Yield Percent||2.81%||4.22%|