The Smartline Report – November Edition

The month in review: Canberra

By Herron Todd White
November 2016

Small projects for advanced property investors in the residential space revolve around development. Examples include new multi occupancy construction and extensions or renovations to existing dwellings. These developments require some expertise in town planning and construction to enable the best returns. The recent release of cleared Mr Fluffy blocks onto the market has provided opportunity in this area as planning and development rules are less restrictive.

Large centrally located blocks present the best land for multi occupancy development. RZ2 zoning permits redevelopment. Other land features in demand include street frontage, location and access to services and corner locations.

As Canberra continues to expand with land releases occurring in Gungahlin and the Molongolo Valley, the demand for centrally located larger residential blocks with potential continues. The market for this type of property is expected to remain strong over the short term. It should be noted however that planning rules require some administration and preparation work to allow development to occur. In some cases this has resulted in long term land owners being able to sell to experienced developers at a premium due to the development potential. As stated town planning and construction experience is important.

Find out more information and to chat with a local Canberra Mortgage Brokers.

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 – 2016. Australian Credit Licence Number 385325

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DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.