Canberra

The Smartline Report – April Edition

The month in review: Canberra

By Herron Todd White
April 2015

The past few years has seen a continued level of strong vacant land supply to the ACT residential property market.

Gungahlin has been at the forefront of this expansion, with a number of new suburbs entering the market. With the latter stages of Harrison, Bonner, Forde and Casey nearing completion the market is looking elsewhere for new supply. Within Gungahlin the suburb of Jacka remains relatively untested with Moncrieff just recently hitting the market.

Of all developing locales to hit the market in the past few years, the results seen in the initial land releases through Lawson remain the benchmark. With the initial stage of development nearing settlement, Lawson provides for a central location opposite the University of Canberra with easy access to main transport routes and good elevations. Sale prices reached a staggering $800,000 for a 1,540 square metre block.

The Molonglo region continues to expand with extensive development through Wright and Coombs. Most blocks in this region sit in the 400 to 600 square metre range with asking prices well in excess of $300,000.

While land releases appear to be tapering, the Land Development Agency still has an expanse of available options yet to be exhausted with developments of note to keep an eye on including West Belconnen and the Yarralumla Brickworks.

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Please note that information in this publication is subject to change without notice. Smartline assumes no responsibility for any errors, omissions or mistakes in this document. © Smartline Home Loans P/L 1999 – 2015. Australian Credit Licence Number 385325

 

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