ACT Canberra Property 2017

Canberra suitable for split block development?

I am looking for blocks 800-1000m2 suitable for splitting. Does anyone know which Canberra suburbs where these size blocks exist and there is evidence of existing development activity?

 

I would suggest looking up/ringing council (actpla) to ask what their fees are as of july :/

 

I wouldn't buy a house just because of depreciation. Gungahlin is improving but there's still no employment hub there even now and I doubt there will be for a long time. Established suburbs have much more in their favour IMO but up to you to decide obviously.

 

Hi Gomez - most of the inner north and inner south suburbs would potentially be suitable but you’ll find that the potential redevelopment factor has well and truly been factored into the land prices.

I’ve had my eye on some blocks in Leichardt St Griffith58 Leichhardt Street, Griffith ACT 2603 Address Information | allhomes
But the unimproved capital value is close to $1.0m.

Allhomes.com.au is the go to site for research.

 

that's a good point you raised that Gungahlin doesn't have any employment opportunity besides retails business.

do you guys know if there is news that they going to build market centre in Moncrieff?

 

its true that gunghalin does not have any government hub however there are so many suburbs in canberra that dont have government offices but the house prices are still thriving like Western creek , Dunman prospect etc

 

Hey guys,

Newbie here and considering building my 1st IP at the moment. I have been looking at a house & land package in Throsby. Around $640K for 4beds and 2 garages. I know Throsby seems very expensive, but I remember 4-5 years ago I thought Crace was also very expensive, and it since has done very well.

Do you guys think Throsby would have the potential to grow as well as Crace or Forde?

Thanks!

 

thats not bad price for throsby ... ive heard throsby land expensive...depend on the land size and living area size too...

 

The block is corner block 377m2 (so small I guess) - and living is 138m2. 4 bedrooms, 2 garages, 1 living area. Backyard size is around 55m2.

Price seems OK compare to current market at Throsby. Was just wondering though whether Throsby has room to grow given its expensive starting price.

 

it will grow as not many land left in northern suburbs for develop.... if you see Gininderry the Act government is taking land in Nsw ....4500 homes has to build in Nsw as not much land is left in Act... thats why land price is going up the roof...

 

You must be joking ...What about all these endless empty fields all around central Canberra ? However, ACT government prefers to profit on remote locations like Throsby selling at crazy prizes. I don't see how prices in Throsby can go much higher. Why should you buy land in Throsby at $1000/m^2 when you can buy cheaper Fluffy blocks in central Belco ? You can even get a nice 4b house on a large block for $650K, what I recently did.

 

yeah its really just the limited supply of land releases rather than limited land. Looks at lawson, a middle ring suburb that didnt exist not long ago, plenty of room for more of those. im sure Belco will met Molongolo soon enough too

 

Median unit price in Belconnen down on last year

 

Maybe this?

Canberra has the second biggest oversupply of housing in the nation
Belconnen top the list by a large margin

 

I don't believe its an oversupply of housing so much as an oversupply of units. People don't want high density unit blocks. They want houses.

 

good to see Page up there, been raving for a few years it was Canberra best value suburb

Canberra’s best performing suburbs of 2017

 

Good to see Belconnen suburbs in the list. As an outsider to Canberra I could never understand the price disparity for the area when it was so close to everything and had solid houses and good sized blocks.

 

whats happening with Gininderry development any news... how this new suburb will perform...

 

I initially found that funny too. Comparing a suburb like say Hawker to Page/Scullin that are ~1km away yet almost half the price

 

Page at 20% growth for the year - wow! Must be the fancy bottle-o with all the awesome craft beer seducing the hipster crowd......must admit I've driven long distances to buy beer from them in the past

Cheers

Jamie