October 10, 2008
Property Hotspot: Canberra?
Well while the sky is falling on share markets around the world: property in a town run by the government is probably not a bad thing!
Parliament House Canberra, ACT
Colliers International is picking Barton in Canberra as one of Australia’s housing hot spots. Colliers say that:
Barton is one of the best-performing suburbs in Canberra for capital growth and desirability, and is easily recognised as as exclusive and important location in Australia’s national capital.
The median price of an apartment in Barton has increased by 13.9% in the past year. The Doma Group has achieved $35 million in pre-sales in the luxury apartment complex Realm Quarters project in Barton. The most expensive apartment sold to date in the Realm was the penthouse which went for a cool $2.68 million. The apartments have an excellent location in the heart of the Parliamentary triangle. The 8-storey luxury apartment complex will be compete by mid-October. Designed by Colin Stewart ARchitects many of the units feature recessed balcony rooms which frame sweeping views of Parliament House. One-bedroom apartments start from $380,000
Sure everyone is running to gold and cash as the financial markets crash with an unusual amount of panic - but investing in a town which is driven by politicians and academics make some sense. When the recession hits higher education tends to boom as students can’t get jobs. Canberra boasts a number of excellent universities including ANU and the University of Canberra. With a left-wing government in power it seems likely, and history foretells, that the number of civil servants will be a growth industry for the next few years.
Canberra is a designed town, situated roughly half-way between Melbourne and Sydney who couldn’t agree as to which of them should be the capital of the new country, Australia. Designed by an American, Burley-Griffin, little of the original grand vision was built but the town is beautiful in its own way. Clean and boring yes. Lacking cafe culture definitely. Several hours from the beach yes. But close to some of Australia’s best (by Australian-standards) ski fields there are worse places to live: though few Melburnians or Sydneysiders would agree with that statement.
Filed under Australasia, Australia by Elisabeth Sowerbutts
Comments on Property Hotspot: Canberra? »
For those who are young and restless, Canberra may seem like a lesser choice than the cliched urban environs of Sydney or Melbourne, but for those with a little more maturity and culture and class, Canberra is a truly inspiring place to live. It has an overabundance of cultural facilities and all are easily accessible — and most are free. There are, in fact, more restaurants per capita than any other Australian city and cafe culture is developing in the younger, more ‘fashionable’ inner city precints of Braddon and Kingston whilst Manuka is ‘de rigour’ for those with money and style. There are local arts and craftspeople of national and international renown who choose to live and work here (not Sydney or Melbourne). The public architecture is a tribute to 20th century design and for any architecture buff, the influence of modernism is alive and well in Canberra. The schools and Universities are among (if not the best) the best the country has on offer and for the career minded, professional jobs are well paid and varied.
It is also a city which truly lives up to its slogan of “the bush capital” with its proximity to rural and natural Australian landscapes, reserves and walking tracks, and also with its careful inclusion of native species trees with those that have been introduced and mostly deciduous, so that with each change of season, the city shows a different face.
The beach is 2 hours drive away but the drive is spectacular through golden fields of swaying grass and then across the great dividing range with its amazing eucalypt and cycad forests, and then onto some of the most private, beautiful and idyllic coastal locations in this country.
Canberra is like no other Australian city. It has fresher air. It has no traffic or parking problems. It has short commute times and easy access to anywhere. It has low unemployment and high job satisfaction. It is family friendly. It experiences 4 real seasons with all the beautiful physical expressions of change and growth and renewal. It has parks and reserves and bike paths and walking trails and golf courses and two beautiful lakes. It is only 2 hours to the beach in Summer or the snow in Winter. Shopping is extremely well catered for and never too far away. It is home to the Australian National University, The National Museum, The National Gallery and the National Institute of Sport, and the National headquarters of CSIRO, to name but a few.
It hosts more festivals than other cities too on themes as broad as flowers and multiculturalism to photography and folk music.
CANBERRA IS A GREAT PLACE TO LIVE AND ONE OF THE NATION’S BEST KEPT SECRETS!
Yes, it’s colder than other Australian cities, but the houses are built for it and its a great excuse to indulge in some real fashion style (think London, Paris) and also to kick back in front of a log fire with a glass of fine red or to hit the slopes for some skiing action. Winter is just one of the many seasons experienced here in Canberra and to brand it as boring and cold is to be ignorant of its many blessings, which in my opinion out-do any of the other major capital cities in this nation. Property moves quickly here with a flat market used to describe one in which it takes longer than 3 weeks to sell a house! Property is and always will be in demand for those that come here to work and to stay after discovering the city’s many virtues.
Well certainly don’t disagree. I spent some 10 months living in Canberra in the late 1980’s it was a huge improvement on my previous town in Australia: mind you that was Broken Hill - use to laugh at the Sydnersiders who thought I was in an isolated location - you are very right about it being incredibly central. I live in Perth now and I must admit as an ex-NZer I love not having a cold winter: just cool enough to wear a jacket for a few weeks! Cooler than Brisbane that is.
Canberra’s property market is a bit like Wellington, NZ (my home town) because of the depth of government jobs and infrastructure there are never huge swings in the market like you see in Sydney or Auckland. Its a great place for long-term captial gain.
Thanks for visitng and commenting!