As per the recent sale results it seems like Tuggeranong is rolling down the hill. These two houses below are on better side of Tuggeranong i.e. Chisholm area. What is interesting is that these are big 800 sqm plots, 4 bed 2 baths 2 car, renovated, but only sold for 550k and 481k respectively. 8 Turriff Street, Chisholm, ACT 2905 2 Cheeseman Place, Gowrie, ACT 2904 By this yardstick, full plot 3-1-2 houses are only worth 450k or lower. Wonder why is the market losing steam quickly in the Tugga and what prices were are going to see next year if Labor pitches in with their anti investor motto.
Wow. It 'almost' makes me want to consider buying down southside for a new PPOR at those prices. Be interested to see if there is any flow on affect northside at all, or if they were just aberrations of the market. I will definitely be keeping an eye on things to see whats happening.
They both look like decent buys considering the block sizes as noted. I wouldn't feel too safe in those areas at night or feel particularly confident people living in those areas would pay the rent though... A fair bit of development in bigger blocks in places like say Farrar with better demographics are worth it IMO
The Gowrie property is backing onto Ashley Drive - I wonder if there's a fair bit of traffic noise? If so - that would likely reduce the price. $550k for a 4 bedroom in Chisholm seems pretty reasonable - having said that, I haven't been closely following the Tuggers market for a while. Cheers Jamie
OMCGs arent really a problem in the residential areas in the south, more just white-trash 'thug-ranong' unorganised groups
The suburbs surrounding Fadden are supposed to be the safest part of Tuggers. Unsafe parts are central Kambah, some streets of Richardson and Isabella Plains. Those who think Tuggers is unsafe should spend sometime around Charnie / Holt markets. I think the reason for price drops are 1. Young people moving out of Tuggers towards Gungahlin and Inner North. No one wants to mow lawns, remove webs, clean up leaves as the new generation thinks its a waste of time. 2. Owners / Investors knowing its the peak of the market now before it goes into 2-3 years of a downturn / flat trend. Best to reap off high prices and invest in states like WA where bargains are available. This has caused a flood of properties in the market, also made worse with unlimited supply of townhouses. 3. Government has no plans for Tuggeranong (no light rail, no more jobs, no expansion). New suburbs will be built in west. Tuggers is seen as a place for retirees not for the Gen Y and Z.
No arguments from me with Charny being tougher than Tuggers. e.g. Charny: Public Housing 17% Earning Under $1000 Per Week 51% Charnwood - Free Property Report I would suspect there to be some pressure for stage 3 of the light rail to continue from Woden to Tuggeranong in 10yrs or so, but wouldn't bank on it!
Tuggeranong is a very large area. Gowrie and Chisholm fall in the group with Kambah, Richardson, etc. Check what similar houses in other parts of tuggeranong are selling for, like Bonython, Monash, Calwell, Condor, etc.
