All Topics / General Property / ACT

Viewing 9 posts - 1 through 9 (of 9 total)
  • Profile photo of SiboSibo
    Participant
    @sibo
    Join Date: 2003
    Post Count: 126
    December 28, 2003 - 12:13 am

    Hi all,
    I’m moving to Canberra from Dunedin shortly and am trying to get a handle on the local market. Has anyone got any suggestions as to areas of potential in or around ACT?

    Regards,
    Si

    Profile photo of spider2spider2
    Member
    @spider2
    Join Date: 2003
    Post Count: 81
    December 28, 2003 - 4:41 am

    I have recently shifted from Canberra to Sydney and my recommendation is to purchase as close to a town center as possible (Woden, tuggerangong, Belconnen, erindale). Woden has seen some good growth in the past 2 years and I believe there is more to come due to the expansion of clubs and facilities.

    Hope this helps

    Profile photo of spider2spider2
    Member
    @spider2
    Join Date: 2003
    Post Count: 81
    December 28, 2003 - 5:49 am

    Si,

    I forgot to mention that if you go to a website http://www.allhomes.com.au it will give you most properties for sale in the act and regions. Also, it gives an historical audit of the house in regards to the prices.

    Spider

    Profile photo of SiboSibo
    Participant
    @sibo
    Join Date: 2003
    Post Count: 126
    December 31, 2003 - 2:23 am

    Many thanks Spider! Your suggestions are much appreciated.
    Regards,
    Si

    Profile photo of melbearmelbear
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    @melbear
    Join Date: 2003
    Post Count: 2,429
    December 31, 2003 - 6:33 am

    Si, I personally would recommend you rent for a while before buying. The market here is slowing considerably, and there are many more properties available in the sub $300K bracket than there were 3 months ago. There are also quite a few apartments coming online, and some I think that have come online that still have rental vacancies (about 500 I’m guessing). This will lead to a fair bit of an oversupply for the moment, so you might find you could get a good deal to rent.

    As spider said, check out allhomes, but if you know where you will be working, I would recommend you live close to work if you can – it’s much easier. Definitely don’t live in Tuggeranong if you will work in Belconnen and vice versa.

    Cheers
    Mel

    Profile photo of mmworldmmworld
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    @mmworld
    Join Date: 2003
    Post Count: 2
    December 31, 2003 - 11:12 am

    I purchased a property in Wanniassa 2 years ago for $190,000, I just had a bank valuation done it came to $310,000. Wanniassa is close to both Tuggeranong town centre and Woden town centre.

    Also my mother purchased a home in the outer suburb of Banks for $120,000 about 6 or 7 years and is now worth in excess of $250,000.

    I hope this gives you some idea.

    Cheers :)

    Ivan.

    Profile photo of spider2spider2
    Member
    @spider2
    Join Date: 2003
    Post Count: 81
    January 1, 2004 - 3:49 am

    SI,

    Even though I think there will be some more growth in Woden in the near future, I believe it is overpriced. real estate is so cyclical in Canberra you would be buying at the peak at the moment.

    All comes to they who wait…..

    Spider

    Spider

    Profile photo of SiboSibo
    Participant
    @sibo
    Join Date: 2003
    Post Count: 126
    April 3, 2004 - 5:28 am

    Thanks everyone.

    Regards,
    Si

    Profile photo of AceyduceyAceyducey
    Participant
    @aceyducey
    Join Date: 2003
    Post Count: 651
    April 4, 2004 - 3:43 am

    Sibo,

    Come along to some of the investor get-togethers once you’re here :)

    Cheers,

    Aceyducey

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