Bucking the nationwide trend of falling capital city house prices, Canberra’s market is only just warming up.
There has never been a better time to live, work or invest in Canberra.
Australia’s youngest capital city is undergoing an unprecedented transformation, with more than $2.9 billion worth of infrastructure projects under way and town centres evolving into vibrant, urban precincts.
In 2019 as the property markets of other capital cities soften, Canberra presents a compelling opportunity for investors.
The nation’s capital boasts the fastest growing economy and the strongest population growth in Australia.
“There is an unprecedented demand for apartments in Canberra and the rental crisis is worsening,” Geocon founder and chief executive Nick Georgalis said.
“With sky high rents in the ACT, now almost surpassing Sydney as the most expensive place to rent in Australia, the idea of owning an apartment and mortgage repayments being less than rent in Canberra is drawing interest globally.
“The booming population and employment market here will be driving demand even higher over the next few years.”
As a Canberra-based business, Geocon has unrivalled market knowledge, allowing it to move quickly and strategically to realise exciting new opportunities in growth areas.
With 12 developments under way, Geocon is redefining the Canberra skyline with an impressive portfolio of residential, commercial and mixed-use precincts across the city providing investors choice in terms of location and price.
“Through the success of the Midnight precinct in Braddon and the Republic precinct in Belconnen, we understand that Canberrans demand something more than just an apartment,” Georgalis said.
“Precinct living delivers a lifestyle and level of amenity that grows communities not only for the residents of that precinct but the surrounding areas.”
Geocon has units available in several of their world-class mixed-use precincts currently under development which come with the offer of a 7 per cent rental yield guarantee for five years for investors.
From the $1 billion Republic precinct in the north, the luxurious Metropol precinct in the City or the recently launched Aspen Village in the south there are a range of one-, two- and three-bedroom apartments at multiple price points from $289,900 upwards that cater to a range of investors.
Geocon’s Nick Georgalis isn’t the only one who is excited about the opportunity Canberra presents for investors and what it has to offer as a city.
TV’s The Mentor and executive chair of Yellow Brick Road, Mark Bouris AM, is also a vocal advocate for Canberra.
“Investors looking for opportunities that reduce their risk and are stable in terms of volatility should always include property in their portfolio,” Bouris said.
“The national capital of today provides a great mix and solid returns…. Canberra is growing up, and town planners along with switched-on developers are creating a city of the future here.”
The Urban Developer is proud to partner with Geocon to deliver this article to you. In doing so, we can continue to publish our free daily news, information, insights and opinion to you, our valued readers.
