With Canberra’s property market seeing immense success and only projected to rise further in 2022, Canberra has proved to be the ultimate destination for smart property investors. In response to the perpetual market demand for quality stock in Canberra’s south, Geocon has launched the second and final stage of its highly successful WOVA project.
Canberra is currently seeing vacancy rates at an all-time low, with rates of just 0.5%. This demand has been evident as 90% of WOVA Stage 1 residences, and over 500 of the available 802 residences, have sold. The project has been particularly popular amongst investors and owner-occupiers, with demand not looking to slow down anytime soon.
To address demand, the release of WOVA Stage 2 will provide opportunities for investors, first home buyers and downsizers alike.
Canberra’s south is currently seeing consistent market demand for high-quality residences, largely kick-started by the ACT government’s billion-dollar investment in the Woden area. This investment will see increased opportunities over the next decade, through projects including the Canberra Hospital expansion, a new CIT campus, Light Rail stage 2B and a number of privately funded projects. This will lead to increased population numbers in the area, therefore boosting the rental market.
Geocon Director of Sales, Tom Stephens, has said that “Woden has been a primary focus of renewal and rejuvenation from the ACT Government over the last four or five years, which has seen unprecedented demand for good quality housing stock in the town centre.”
WOVA Stage 2 offers buyers an unmissable opportunity to invest in a rapidly growing precinct just a ten-minute drive from Canberra CBD. With rapid development of the Woden area, WOVA is an ideal opportunity for smart property investors looking to make the most of rental demand in the area.
WOVA Stage 2 features a mix of commercial units on the ground and neighbouring units above. It is a mixed-use precinct which will also include exclusive resident amenities like a pool, gym, and rooftop terraces, with dining precincts, transport hubs and daily necessities just minutes from the front door.
WOVA Stage 2 brings a range of one, two and three-bedroom residences to the Woden market. With a starting price of just $369,000, this is an investment in the growing Canberra market that is not to be missed. For more information on WOVA, or to enquire, click here.