Navigating Canberra’s Property Landscape, From City to Suburbs
As you can see, there are different kinds of properties for sale in Canberra’s real estate market. Canberra’s real estate market has recently expanded, and that’s why you can find different options for commercial and residential investors.
Residential Properties for Sale in Canberra
For those in need of recommendations, you can buy property for sale in Canberra in these well-known residential areas:
- Canberra City: Apartments and townhouses in inner Canberra offer a more cosmopolitan experience, with the added bonus of a walkable city that provides a healthy gateway between home and local galleries and the government precinct.
- North Canberra: Northern Canberra: Established homes and destination for subdivision development. Walk to school, prestigious school catchments, new homes and established homes.
- Belconnen: One of the largest districts of Canberra, Belconnen has everything from waterside flats to family houses, surrounded by extensive facilities and green areas.
Commercial Properties
- Commercial: Canberra’s business districts present an array of business properties, such as shops, offices and warehouses. Ideal if you have a business that needs to be in the thick of things.
- Investments in Developmental Areas: Those who invest in properties in such developmental areas will be able to take advantage of the opportunities that come with growth, particularly as the city increases in size over time.
Property Investments
- Steady Market: Australian Capital Territory (ACT), a government ‘steady market’ where public service activity guarantees a constant flux of tenants and buyers.
- Portfolio Diversification: Using a Canberra property in your portfolio can help you diversify your holdings so that you can get a mix of capital growth and rental returns.
Finding the Right Property for Sale
- Real Estate Agents: Contact local real estate agents specialising in the Canberra market.
- Online For-Sale Lists: You can go to real estate listing sites to browse what’s on the market, check market prices and look at neighbourhoods.
Invest in Canberra property and exploit a flourishing city’s investment opportunities. With the right strategy and local knowledge, you will find your dream property that caters to all your investment requirements.
A Closer Look at the Commercial Side
Best Areas for Commercial Property in Canberra
Canberra’s commercial real estate market could draw a large number of investors and developers interested in putting their money into the right investment. Plenty of commercial-based forums online will shed light on the hot spots for commercial property in the ACT.
Overall, the best locations to invest in are Civic District, Belconnen and Fyshwick due to their higher rental return and large numbers of the working population.
The Civic District is a thriving and vibrant area with an extremely attractive commercial investment opportunity area. This area has commercial properties available for afternoon tea parlours, restaurants and supermarkets, and it features a prime location with good rental return and low vacancy rates.
Belconnen stands out due to Canberra’s working population’s high demand for commercial property investment.
Lastly, Fyshwkck is a district in outer Canberra, and having a commercial property there will mean a doubled number of potential customers due to its agricultural-industrial nature.
The ACT has plenty of opportunities for commercial property investment for big and small companies. Here’s some further details:
- Braddon and the CBD: These central areas offer high visibility from prime retail, office and hospitality venues, located near business hubs and foot traffic.
- Fyshwick: Similar to Kingston, Fyshwick comprises large industrial and warehouse spaces. If you need large storage or manufacturing facilities, this suburb could be an option.
- Hume: This area is increasingly being sought after, providing better facilities for new industrial developments with new units inclusive of its own yard.
Retail
Giralang has new opportunities for retailers in areas ranging from small shop sizes to big shops.
What to Expect When Buying Commercial Property
Purchasing commercial property in Canberra involves several considerations:
- GST: Goods and Services Tax (GST) – additional to the purchase price-conveyancer.
- Strata Fees: If the property is under strata title, be prepared for strata levies.
- Deposit: You’ll need to put down a bigger deposit (sometimes up to 30 per cent of the value).
- Rental Returns: These will depend on the type of property, the area and the size. Again, it’s good to do some research on the market so there are no surprises.
- Tenant/Lease Negotiations: Tenant quality and lease terms determine the outcome of your investment. Advisors/Counsellors are helpful for lease negotiations.
SUMMARY
Investing in both residential and commercial property in Canberra can bring ample rewards and returns if you do the right research in undertaking the industrial real estate market and also the guidance of the commercial lawyer when you and your agent go full steam ahead negotiating a commercial lease will ascertain that you are on the right track in upholding the legalities in a commercial property.
