Canberra is well-known for its progressive central business district, where career-oriented professionals toil and thrive. Many people work as public servants and a strong business sector also contributes to the economy. The capital has developed a unique ecosystem where government, innovation and business exist symbiotically. Real estate investors who want to partake in its progress may need to move strategically, however. Some places in Canberra will reap in more benefits than others with better chances of churning out an impressive return on investment.
For your next Canberra property investment, look into these 4 suburbs that have shown remarkable potential for growth and win-win investment returns.
One of the larger inner suburbs of Canberra, Yarralumla sits along the banks of Lake Burley Griffin, just a short distance to Capital Hill. It only takes a few minutes to commute by public transport or drive into the city using a private vehicle.
This suburb is popular for its vast green space. Residents can walk to the parklands anytime and enjoy several recreational activities with family, friends or colleagues. Almost 70 per cent of residents have access to education opportunities and provisions. The median house price is considerably higher than other suburbs at $2,450,000 AUD. Here you can find the Canberra Yacht Club, a famous sailing club for people of all abilities, and the Commonwealth Brickworks, which supplied most of the bricks used to build Canberra homes until the 70s.
Deakin is situated just a few kilometres off the city centre. Commuting to the city centre takes a little more than 10 minutes and half the time if you go by private car. Though much of its space has been allocated for residential properties, The Lodge, the Australia's Prime Minister official residence, is also located in this suburb. Another popular government office in Deakin is the Royal Australian Mint, the sole producer of Australian coins.
The median house price, approximately $2,025,000 AUD, may be considered affordable for most working professionals. Deakin's median unit price is less than $757,500 AUD. Residents are close to parks and recreational places with a few education facilities in the area.
If you have a preference for wide expanses of nature reserves and eco-friendly spaces, Hughes is the best suburb for you. You have easy access to parklands, local playgrounds, education provisions, and various suburban amenities. There are sporting facilities and walking trails for adventure and hiking junkies. It is near the Red Hill Nature Reserve Park, one of the best places for hiking and enjoying breathtaking hilltop views.
Just a quick drive or commute via public transport to the city centre, Hughes has a promising real estate market. This suburb's median house price is relatively cheaper at $1,712,500 AUD with a noteworthy median unit price of $335,000 AUD. Starting a property investment in Hughes is a smart and cost-efficient move.
For those planning to raise a family, if not already raising one, Amaroo offers an idyllic environment. Not only does this suburb exude a lively neighbourly atmosphere, you can also find several green spaces and places for relaxing and recreation. The streets are safe and peaceful and there is an abundance of supermarkets, coffee shops, restaurants and stores, adding a layer of convenience to your stay. It sits north of the city centre and can easily be reached in less than 30 minutes.
Amaroo has good education facilities, quality sporting facilities, children's playgrounds, spacious homes with private backyards, and an overall strong community spirit. The median house price is a little over $980,000 AUD, which is remarkably affordable considering this suburb's somewhat exclusive and upscale setting.
Are you interested in relocating to or buying property in any of the abovementioned suburbs? Need more time to weigh the pros and cons and see if your location choice is a good fit? You are welcome to get in touch with us! We are a team of experienced independent buyers agents in Canberra with decades of experience representing and guiding homeowners throughout their property purchasing journey. Call or email us at [email protected] for enquiries or related real estate concerns. We will do our best to address your needs through time-tested solutions.
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