ACT Apartments in Canberra - have they hit bottom yet?

Yes sorry I meant houses not units

 

Yeah houses are going off the carts... End of 2015 I was saying that you could get some good stock in the inner north (Hackett, Downer, Dickson, Ainslie, Watson) for $600,000... Now that has changed to $750,000 to $850,000. End of this cycle could easily be min $1m....

 

Yep - it's experienced some good growth. I think it was undervalued previously - less than 5km from the CBD and decent size blocks. It's also a cruisy bike trip into work for those that work in civic (when it's not too cold)

You might land a good deal in Downer over the coming weeks due to the number of properties that have just come online. Seems that a lot of sellers were waiting for the end of spring/pre Christmas period to list.

Cheers

Jamie

 

Maybe the prices for properties may increase without the fear of de-centralisation in the near future.

Personally, I thought that was the most silliest talk going around. The APS already struggles to retain and recruit talented people and you make the pool even smaller with basing some key specialised areas with drop kicks with no talent for the role in whoop whoop.

 

Yep - it was silly.

I guess it helped to sell newspapers though.

Cheers

Jamie

 

I heard on the radio this morning that the Siena apartments in Campbell are giving away "free" trips to Italy if you buy an apartment

 

I hear the same thing most mornings on the radio - I don't think those Campbell 5 ones will have much problem selling even without the trip to Italy, but you never know.

I have heard from agents selling Nova at 26 Antill Street, Dickson that it is only 50% sold and is now coming up to settlement. They mentioned they used some different method where they offered them for sale closer to completion and it has backfired a bit. Stay woke about demand again

 

I'm not sure. I don't think the developers are handing out freebies for the sake of it. I'm guessing a lot of people are getting wary of units now

 

No such thing as a free lunch.

I am hearing of a number of people selling off the tiny 1b apartments/studios in Tuggeranong/Gungahlin for under 300k and offering 25k visa cards.

 

developers handing out free trips to Europe and ppl think nothing to worry about?

 

Southport was handing out $20k cards for a while plus free blinds up to $2k worth and $5k Matt Black voucher for thei replica furniture. Then changed to giving away a $20k car or GeoFirst grant or whatever they've called it. The under $300k 1 bedders are dark/dim 20+ defects ahoy. Anything that's with a reasonable view which might be blocked in the future by other developments near the lake fetches $320k+ for a 1 bedder. Almost $400k for a 2 bedders. $1.5k strata a quarter too to boot. No thanks.

 

Know it. A delightful vista overlooking Bunnings. A quick dash across the road to get most of what is needed to rectify the defects. It's awful.

 

Yeah then there's more fun organising access to the MDF for the telco to setup your broadband. Nearly bought an unit there but thank gawd they didn't budge on the asking price otherwise I'd be in trouble now trying to rent it out.

 

no capital growth in the near future for the ACT apartments. Having said that it is a buyers market at the moment and if you want to live cheaply you can pick up a 1 bedroom apartment for well under $300K, and I have seen some ok 2 beddies for around $320-30K mark