As Canberra has evolved into an increasingly lively city with a secure economy, it has also developed into one of Australia’s most dynamic property markets.
Whether you’re a first-home buyer or a seasoned investor, Canberra has consistently proven to be one of the most intelligent locations to invest in property. With the second-lowest stamp-duty in Australia and a strong labour market that has led to an increasing population, Canberra’s development doesn’t seem to be slowing down.
Property prices in Canberra have risen by 2.2% since last year, with the median property value currently sitting at $816, 644. Unemployment in the ACT is at 3.9% and population growth is at 1.7% thanks to the strong labour market. According to ABS data, this is the second-highest growth rate in Australia.
In November 2021, buying off-the-plan became even more appealing for those looking to buy in Canberra. New legislation targeting sunset clauses were introduced to ensure buyers more peace of mind
Nightfall is located in Belconnen’s highly-regarded new development, the Republic Precinct. The development features 22 levels of architecturally designed residential apartments in their final stage of development.
Canberra has seen steady growth throughout 2021, with no signs of slowing down soon. The nation’s capital is the ideal location for savvy investors to diversify and expand your portfolio. First home buyers will also find a number of benefits when buying off-the-plan in Canberra.
There are a number of new developments in Australia’s capital city, making it the ideal time to take advantage of government incentives and buy a new off-the-plan home.
High Society is the tallest residential tower in Canberra, situated in the vibrant suburb of Belconnen. With an array of floor plans available and state-of-the-art finishes in all apartments, High Society offers an elevated calibre of urban living for first home buyers and seasoned investors alike.
Metropol features beautifully designed communal facilities including rooftop gardens, alfresco dining, pools and a kids play area. Located just eight minutes by foot from Lake Burley Griffin and ten minutes to Australian National University, this central property is ideal for buyers looking to invest in property near Canberra’s CBD.
The strong and consistent growth of Canberra’s property market, along with government incentives to protect and encourage off-the-plan property buyers makes now an ideal time for first-time buyers to break into the property market. Seasoned investors are also presented with a wealth of opportunities as off-the-plan apartments in Canberra become an increasingly intelligent investment opportunity.