CoreLogic National housing Update October 2017
October Market Outlook
Offset or redraw? A look at the pros and cons
Capital city spring property update
5 smart ways to spring clean your finances
Adelaide October 2017
Brisbane October 2017
Cairns October 2017
Canberra October 2017
Darwin October 2017
Gold Coast October 2017
Melbourne October 2017
Newcastle October 2017
Perth October 2017
Regional NSW October 2017
Regional QLD October 2017
Regional SA October 2017
Regional VIC October 2017
South West WA October 2017
Sydney October 2017
Tasmania October 2017
Wollongong October 2017
CoreLogic NSW housing Update October 2017
CoreLogic QLD housing Update October 2017
CoreLogic SA housing Update October 2017
CoreLogic VIC housing Update October 2017
CoreLogic WA housing Update October 2017
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Canberra October 2017
The month in review: Canberra
By Herron Todd White
As Canberra is a relatively young city compared to other Australian cities there is no real housing type that has dominated the market or become a trademark of the city. There are a number of different housing types across the city. Some have remained popular and some have become redundant.
Lately there has been a large increase in the number of townhouse developments being constructed. These mainly consist of 3- or 4-bedroom, 2-bathroom dwellings in multi-unit complexes. The majority of these have been built in newer suburbs. The flexibility of these dwellings is probably the reason for their success. They often appeal to a range of demographic groups including first home buyers, downsizers and young families looking to move to the suburbs.
Ex government dwellings have seen a revival in recent years with renovators and young families looking to move into an established suburb and into a family home.
They are also popular with Canbbera investors looking to renovate and sell. This market has been driven by the strong demand for detached housing especially in established suburbs. Due to their simple design, most ex government houses can be easily renovated or extended.
The ACT government is keen to limit future sprawl of the city and increase the density of existing areas. This will probably lead to more apartments and townhouses throughout the city. The light rail project may also increase the trend of high density living as the majority of housing along the route is apartments.
The increasing population and infrastructure projects have forced Canberra’s housing trend towards higher density living. While opportunities still exist in the detached housing market they are becoming further out of reach for most people.
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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.