Located in Australian Capital Territory within the Unincorporated ACT local government area, Bruce is a medium-sized suburb (postcode 2617). It is home to about 7,520 residents, with a predominantly early-career demographic and a median age of 29. Households earn a median income of $118K per year, with an average household size of 2.3 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.3% year-on-year at the LGA level. ACT employment has moved -0.1% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. ACT also had 6 Commonwealth-backed major projects under construction, 1 underway, and 7 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, community & personal service, managers. Employment in the area leans toward public admin & safety and healthcare. The top ancestries reported are English, Australian, Chinese.
Bruce has a median house price of $1.3 million, which has declined steeply by 8.9% year-on-year. Units have a median price of $560,000 (+15.2% YoY). The median weekly rent is $430 (Census 2021). This gives a gross rental yield of approximately 1.8%. The median monthly mortgage repayment is $1,733.
Bruce is served by 1 school, including 1 combined. The average ICSEA score is 1203, which is well above the national average of 1,000. Public transport access includes 47 bus stops. Healthcare facilities include 3 public and 2 private hospitals. The crime rate in the Unincorporated ACT LGA is below average at 2,580 incidents per 100,000 population.
From an investment perspective, The gross rental yield works out to roughly 1.8%, which reads as low yield. Property prices are near the state median ($1.3M/$1.0M). The price-to-income ratio of 10.8x is considered stretched. House prices have moved -8.9% year-on-year. Population growth of +1.3% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.