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Bruce

Suburb Profile

Bruce - FREE SUBURB PROFILE REPORT
POSTAL CODE: ACT,2617

house
unit

A 12.79% 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 11th.

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 $820,000

The augmented property values in the suburb are trailing above the territorial average of 5.2% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $650.

Home owners selling their properties and realtors in BRUCE usually have to wait an average of 0.0 days days before their assets are lifted off the market.

The ACT suburb ranks 35th on the list of best yielding suburbs for rental properties in ACT, posting a 4.12% return.

It also places places 1st in Australia based on median property value growth during the quarter.

Surburb overview

Bruce is a suburb in the Belconnen district of Canberra, ACT. The suburb is bounded by the arterial roads of the Ginninderra Drive, Aikman Drive, Eastern Valley Way, and Belconnen Way. The suburb’s namesake is Stanley Melbourne Bruce, Australia’s prime minister in the early 1920s. Its streets were named after college and university professors in Australia.

Bruce is centrally located between cosmopolitan Belconnen and the sedate suburbs of the district. Residents are spoilt for choice in the suburb, with an overwhelming selection of lifestyle destinations, food haunts, entertainment facilities, academic institutions, and public facilities to choose from.

Suburb growth

Recent land releases along Braybrook Street have boosted investor interest in the suburb, with land intended for mixed-use development. The construction of a new hotel and apartment block on one parcel of land along the street has already been announced and the industry is banking on the development to drum up more activity in the precinct.

Other developments are situated in Fern Hill, which was originally proposed as the site of the suburb’s next technological hub. A commercial centre containing offices is slated to be built along its Thynne Street precinct, as well as apartment complexes that offer residents value for money. Bruce is among the top-performing suburbs in Canberra in terms of property value increase by postcode, with the average price of houses for sale increasing by 39.85 per cent in the past five years.

Data report can be found below

KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $820,000 $393,000
GROWTH REPORT
Median Quarterly 24.24% 2.14%
Median 12 month 12.79% 10.7%
Median 3 years 19.19% 3.97%
Median 5 years -5.91% -8.6%
10 years average annual 2.73% 0.18%
Weekly media advert. rent $650 $460
Time on Market 0.0 days 61.8 days
Gross Rental Yield Percent 4.12% 6.09%
demographics (median values)
Total Population
3384
Weekly Household Income
2066
Household Size
2.60
demographics
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