ACT Canberra Property 2017

Wow almost 200 properties listed on Allhomes just yesterday

 

I don't follow property but I do hear others chatting about it and what they say about prices surprises me I have to admit. No idea of how much I'd have to pay to get the property where I live now (Ainslie) but at the time in early 2015 I almost balked at the price but took a deep breath and paid up. Was a situation of have too. Thank the Lord it was a cash deal.

 

house-prices-should-first-home-owners-buy-an-apartment

the ladies in the article ..bought apartment in belconnen OTP 7 years ago then recently sold for 30k loss :/ thats gotto hurt when you look at sydney etc :/

 

do you guys think that will be the case for townhouses? recently purchased a 3b townhouse in Gungahlin.

 

I think townhouses will take a while to get good growth maybe unless they are in very prestigious areas. A colleague at my previous job had an apartment in Bruce and has lost quite a bit of money on it. She's now just aiming to pay off the loan and treat it like forced savings to use to buy another place in the future

 

All the agents waiting for school holidays to end

Cheers

Jamie

 

As an owner occ they can be ok - some are quite affordable. If you buy something new and you're a FHB then some of the grants/concessions can be quite generous.

Long term - I doubt they'll experience the same growth as a detached house.

Body corps can become a pain too - not only the ongoing cost but dealing with them can become a PITA

Cheers

Jamie

 

yes it will be for PPOR and FHB too which saved up almost 20k with the concessions incentives.

Proposed future market town shops opposite of the townhouse, and it will be close to school too.
won't that helps to grow the values?

 

Should do @Billa
I guess it will fall somewhere between a house and apartment in terms of growth. I wouldnt be stressing. 3bdr should have reasonable demand, still attractive to families / different market to most apartments

 

Are there any restrictions in terms of renos with seperate title townhouses? Not sure how they work compared to houses and normal townhouses

 

Canberra house prices are expected to surge next year

Canberra development at record highs but so are the non-starts

 

Generally not but you might want to check your contract to see if there were any restrictions or caveats on external modifications.

I lived in a separately titled townhouse in Isaacs and one of my neighbors changed his garage door - it looked a little odd to see 1 of the 4 not matching the others but there was nothing that prevented the owner from doing so.

I’m aware of another case in Tuggeranong where an owner changed the paint color of his townhouse and there was nothing in the body corporate rules (at the time) which prevented him from doing so.

 

hi Guys ... im looking a property in Gininderry... a 4 bed ... any body does know this new upcoming suburb... any thoughts... its going to be an investment property around $635k

 

not really any thoughts..probably be a nice area with the river near by..but i guess you could say the same about kambah. not sure how its desirability/demand will compare to the new gunghalin suburbs which people seem to love / happy to pay top $. 635k sounds relatively cheap compared to those newer gunghalin areas though - if you were doing similar there what would you pay?

goes without saying but remember to factor in rates + land tax into holding costs

 

whats the thoughts on new up coming suburb

 

apparently for 85 block of land had applied 950 people they say... its going to be a big area with 11500 homes where 4500 are going to be build in Nsw border...but it will take at least 25- 30 years to finish

 

I keep saying it on here but with a budget of 650k, you could get a pretty nice house in central Belconnen which has more upside IMO than these new areas. There's always going to be houses that are newer but you can't change the location/amenities of where it is - that will always have demand

 

Yes, I agree, but don't forget that for new houses you get substantial depreciation returns over the first 10 years. Whether the growth in established areas will be higher than depreciation savings+the growth in new areas, it is not very clear. In addition, Ginninderry in general is quite a nice area, I recently went to the markets there. I also looked at the master plans and in 5 years they will build a new market centre with up to 6 storey buildings.
In 2001 one guy told me that he bought a house in Gungahlin and I thought that he is out of his mind.

 

Don't know if this will help Canberra property market - Lonely Planet lists Canberra as one of the world's three hottest destinations

 

Yeah maybe ginenderry will be the new gungahlin. Given land sales are ballots as well you are paying a far better price than auction imo - that would certainly make me a lot more comfortable buying there. Just remember building in canbeerra is very expensive and i think? ginenderry has a pre set list of builders.

On a different note, from here


"The housing market is predicted to thrive more so than any other capital city, with a rise in the median price of a cumulative 16 per cent to $750,000 due to an increase of public sector employment growth, population growth and a general undersupply, while the unit market will see a much smaller rise of a cumulative 2 per cent to $435,000."