Investment tip: Building a property development team
Success in property development, as in all wealth-creation strategies, requires passion and dedication, thorough research, and the help of r...
A -7.62% increase in median property prices in BRUCE, 2617 has allowed this suburb to join the ranks of best performing suburbs in ACT, settling at number 88th.
It also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $740,000
The augmented property values in the suburb are trailing behind the territorial average of 3.98% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $635.
Home owners selling their properties and realtors in BRUCE usually have to wait an average of 66.1 days days before their assets are lifted off the market.
The ACT suburb ranks 34th on the list of best yielding suburbs for rental properties in ACT, posting a 4.46% return.
It also places places 79th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $740,000 | $378,000 |
| GROWTH REPORT | ||
| Median Quarterly | -3.9% | -3.69% |
| Median 12 month | -7.62% | -3.08% |
| Median 3 years | -15.43% | -12.6% |
| Median 5 years | 0% | -10% |
| 10 years average annual | 2.85% | -0.08% |
| Weekly media advert. rent | $635 | $432.5 |
| Time on Market | 66.1 days | 77.9 days |
| Gross Rental Yield Percent | 4.46% | 6.05% |
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