ACT Canberra Property 2016

Discussion in 'Where to Buy' started by Rotciv, 9th Jan, 2016.

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  1. Rotciv

    Rotciv New Member

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    {Note - thread continued from here: ACT - canberra general}


    So in your opinion Kambah is slow but will never drop?
    Right now there seems like alot of properties in Kambah for sale compared to Weston Creek region and alot cheaper.
    Is there any specific issues in the south apart from it so far away?
     
    Last edited by a moderator: 26th Jul, 2018
  2. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Kambah is a massive suburb - that alone probably explains more listings compared to neighboring suburbs.
     
  3. BigKahuna

    BigKahuna Well-Known Member

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    I had a few friends who were on diplomatic postings from the US. The embassy has many conditions it will place on a house in which it places its citizens. The US embassy is very concerned with security. It will avoid any suburb with crime. Narrabundah, Red Hill, Griffith all have housing commission flats, and there's a bit of crime there.

    Years ago the US embassy purpose-built a block of units (Georgetown) for its diplomats in Kingston. They are lovely apartments. A woman who had only been here for a couple of days (from the US) was broken into. She hid in the bedroom closet. The man who broke in was high on drugs. He found her in the bedroom closet and hurt her. She went back to the States immediately. Since then the US hasn't put anyone else in KIngston.

    I know that they are fantastic landlords. I went into a lot of the houses leased for their staff--all exceptionally well looked after. I asked the US embassy if they wanted my house in Griffith. They said that Griffith was a no-go area for them.
     
  4. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Whoa @BigKahuna that sounds terrible.

    It's quite weird hearing that all those suburbs have been listed as dangerous. They're some of the most expensive locations in town.

    Out of all the capital cities in the world- I would assume Canberra (in general) would have to be one of the safest to set up an embassy. Bushfires would present a higher risk than crime.

    Cheers

    Jamie
     
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  5. BigKahuna

    BigKahuna Well-Known Member

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    Hi @Jamie Yes it was on the news at the time. Very sad. The US are very, very security-conscious. I don't blame them. They look after all their personnel really well. I think they do quite a bit of research before they take on a house. I know there were a list of rules when I contacted them and, even though my house had a back to base security system, I don't think it fitted their conditions anyway (even if it had been in an acceptable suburb for them).
     
  6. oracle

    oracle Well-Known Member

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    Agree. Have one of my IP in Franklin (newly built 2009 - 5 bed/2bath/2garage) leased to US embassy for very good rent. They also lease long term. First lease was for 3 years and after it expired they renewed for another 5 years. They pay rent quarterly which is also nice.

    Bit of initial cost to bring IP to their standards most of it is security related (specific type of deadlocks, specific type of security alarm etc etc)

    Interestingly enough, on renewing their lease they asked me if I had another 5 bed IP that they could rent. Unfortunately, I didn't but felt for a moment I should buy another property but decided against it in the end.

    Cheers,
    Oracle.
     
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  7. mini2

    mini2 Well-Known Member

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    How do you specifically lease it to the US embassy and is Mawson in their blocked list?
     
  8. BigKahuna

    BigKahuna Well-Known Member

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    Mini2, ring them to find out. They have a leasing department.
     
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  9. dmb1978

    dmb1978 Well-Known Member

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    I remember that incident well, nasty crime. Canberra is quite unique like that. There are many well regarded suburbs that I personally wouldn't live in and get paid out for living in Tuggeranong. Ignorance is sometimes not bliss. I find in Canberra there are bad elements everywhere and these can change in an instant so it's best to find a nice street with good neighbours regardless of suburb. The Hyatt is beautiful and classy but even when it was the only 5 star hotel, many high profiles wouldn't stay there due to security issues of it's design.
     
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  10. BigKahuna

    BigKahuna Well-Known Member

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    @oracle Yes, makes me want to go out and buy a five-bedroom property too. lol.
     
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  11. BigKahuna

    BigKahuna Well-Known Member

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    From memory, something else they didn't want was a pool, and my house in Griffith has a pool.
     
  12. Azazel

    Azazel Well-Known Member

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    I doubt any experienced investors would say a suburb will never drop, but over the long term it's a good pick if you do your research.
    There are some old government housing areas, but it's a big suburb. The biggest actually.
     
  13. D.T.

    D.T. Specialist Property Manager Business Member

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    Are you guys still seeing lots of ex Mr Fluffy buyers about? And buyers in general since this is the peak time for people to move to Canberra to start new positions?

    We're looking at reinvesting some proceeds from CBR back into ADL.
     
  14. Starlite

    Starlite Well-Known Member

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    Where is your house? From talking to the agent end of last year they said that lots of Mr fluffy buyers are gone.. this year still bit early to tell.. but everything sold pretty quickly last year in the suburb that i watch..
     
  15. S1mon

    S1mon Well-Known Member

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    dont think this time of years brings more buyers than usual....mainly renters

    good to see lots of pub service grads this year, over 1000, most will be in canberry.
     
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  16. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Seems about the same DT from where I'm sitting.

    Houses in good locations are still in strong demand. Off the plan stuff doesn't move too quickly.

    Cheers

    Jamie
     
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  17. Azazel

    Azazel Well-Known Member

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    Do you remember Canberry Fair?
    **** weak world.
     
  18. D.T.

    D.T. Specialist Property Manager Business Member

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  19. S1mon

    S1mon Well-Known Member

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    cheers DT...you should be property investor of the year!

    slow and steady in 2016 imo...
     
  20. Nemo30

    Nemo30 Well-Known Member

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    I've listed two of mine for auction. Prices have done a bit in the last 6 months in my area. Hope they remain that way for another 6 weeks or so.

    Considering selling the third one too. Not sure whether to keep one in the Canberra market though. First real signsof life in about 5 years, but possibly artificial due to fluffy buyers.
     

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