A -11.3% 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 82nd.
A steady increase in median property prices over a five-year period in the suburb translates to a 1.42% capital gain.
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 $820,500
The augmented property values in the suburb are trailing behind the territorial average of 5.54% 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 63.0 days days before their assets are lifted off the market.
The ACT suburb ranks 32nd on the list of best yielding suburbs for rental properties in ACT, posting a 4.12% return.
It also places places 47th in Australia based on median property value growth during the quarter.
Property investors enjoyed capital gains of 11.11% over the last 12 months in BRUCE, translating to lower returns compared with its peers in ACT.
A survey of average capital gains or median home price increase in suburbs across the country shows that BRUCE, 2617 obtained a 0.15% growth over a ten-year period. It ranks 1593rd on our list of suburbs that property investors should look into.
BRUCE, 2617 has a capital gain of 11.11% for the past year, which is higher than average compared to its 2.56% growth within a five-year period.
With the median home price in BRUCE sitting at $400,000, and the average rent at $420, property owners could potentially earn a 5.46% increase in gross rental yield.
A 11.11% 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 12th.
Figures from the previous quarter show that capital gains for real estate buyers in BRUCE are high, as opposed to average gains per annum over the past five years.
BRUCE, 2617 in ACT belongs to the local government area of Unincorporated ACT.