Canberra rental market sooo bad?

[marcfranc]

I love the enthusiasm - really do wish i could share it. Its very very cold in the morning at my place!

Just arrived back in Canberra on beautiful sunny afternoon. When I mentioned that it had apparently got down to minus 6 last night, my flatmate was surprised. She said they had noticed this morning that it was a bit chillier than normal in their bedroom, but by mid-morning shehad to open the doors onto our terrace because the apartment was getting too hot. Elevated north facing corner apartments are the way to go in Canberra.

We spend less on heating here than in a Sydney terrace.

 

[Redom]

Amazing day outside - its pretty good after 10am i find... before then its pretty cold, at least in my apartment.

Definitely respect those that can go for morning runs.

 

[cimbom]

Just arrived back in Canberra on beautiful sunny afternoon. When I mentioned that it had apparently got down to minus 6 last night, my flatmate was surprised. She said they had noticed this morning that it was a bit chillier than normal in their bedroom, but by mid-morning shehad to open the doors onto our terrace because the apartment was getting too hot. Elevated north facing corner apartments are the way to go in Canberra.

We spend less on heating here than in a Sydney terrace.

I agree. The apartment we were living in previously was great in this regard. Never needed to put the heater on in the morning and only on for 2 hours or so in the evening and it was nice and toasty. Our now PPOR (house) is nicer but our first winter heating bill has been quite painful

 

[property_girl]

Will dig deep into builders rep thoroughly if I (or anyone I know) decides to purchase.

http://the-riotact.com/gateway-apartments-go-to-court/28600

I do worry about a whole precinct that is built below water level. I would walk my dogs past Bridgepoint while it was being built. They had a pump extracting water from the site 24/7. There is another site I know of which runs a pump 24/7.

 

[Redom]

Great info - thank you.

http://the-riotact.com/gateway-apartments-go-to-court/28600

I do worry about a whole precinct that is built below water level. I would walk my dogs past Bridgepoint while it was being built. They had a pump extracting water from the site 24/7. There is another site I know of which runs a pump 24/7.

 

[C Stewart]

I live in the Lakefront apartment and haven't noticed a problem at all.

 

[C Stewart]

500K for a 1 bedroom + Study is a steal. In my building you'd get no water views for that price.

 

[C Stewart]

I assume you haven't been here. I've lived in Sydney, Melbourne and Brisbane.

This place is the equivalent of Walsh Bay in Sydney. It is amazing.

Sure i'm biased, but living doesn't get much better.

Over priced yuppy boxes! Wow! Still laughing.

 

[Harro]

I assume you haven't been here. I've lived in Sydney, Melbourne and Brisbane.

This place is the equivalent of Walsh Bay in Sydney. It is amazing.

Sure i'm biased, but living doesn't get much better.

Attended a family wedding there in September last year. Didn't want to go but felt the heat coming on from the relos. The reception was at Rydges (capital Hill). Had breakfast the following day down on what I now know as the foreshore. A strip with many restaurants (alfresco).
Couldn't get out of the place quick enough! I am simply not a city dweller.
I live approx. 6hrs north of Sydney and haven't been there for over 30 years, and have absolutely no desire to. Traffic, congestion, poor air quality don't do it for me. And sure I'm biased to.

 

[Jamie M]

Traffic, congestion, poor air quality don't do it for me. And sure I'm biased to.

You ain't going to get that in Canberra. I was in Ho Chi Minh City on the weekend - and walking around Canberra today felt like a ghost town in comparison. This was in an area close to the CBD.

Cheers

Jamie

 

[red liverbird]

Canberra is pretty easy to hate on if you want to.... Not sure what the point of that is though? I've spent alot of time there and enjoy it - just try and make sure you can park your car inside during winter!

 

[geoffw]

Traffic congestion and poor air quality are not words I associate with Canberra. Now Sydney and Melbourne- probably. And many big cities around the world make Sydney and Melbourne seem like quiet villages.

A town wouldn't be so bad except I'd have an extremely long drive to work.

 

[Nemo30]

Took this from my backyard the other day. It's a bit dark as it was on my phone.

No traffic here...just the sound of cows.

 

[knightm]

I have read this thread with interest. However I am still unsure as to why anyone would choose to live there. Possibly because they have an excellently paying job, but why else? Foreshore of what? Owning an IP there may have been good when it was full of public servants, but now?
Please outline to me the positives of Canberra, because I simply don't see any.

Haro - you wouldn't want to live there because you live on a beautiful stretch of the coast. I feel the same way. Its a medium sized town that suits some folk, and many are there for work. Economically I don't think the next few yrs will be its best. Cycles will come and go as usual. The interesting thing will be if they all come down the hill to my place when they get the golden handshake. Some evidence saying its happening.

 

[knightm]

I assume you haven't been here. I've lived in Sydney, Melbourne and Brisbane.

This place is the equivalent of Walsh Bay in Sydney. It is amazing.

Sure i'm biased, but living doesn't get much better.

Enjoy!

"Who Is Rich? He Who Is Happy With His Portion" Ben Zoma

 

[Jamie M]

The interesting thing will be if they all come down the hill to my place

Yep, it's quite common.

I've had a fair few clients buy IPs down on the south coast with the intention of retiring down there.

I even looked at picking one up - not that I'd like to retire any time soon

Cheers

Jamie

 

[rohan22no]

Cross post from my thread (http://somersoft.com/forums/showthread.php?p=1201298) into this one which is in a more appropriate forum (hope thats ok) -


Recently purchased a place in Florey - Settled July 25th. I negotiated access before settlement to show potential tenants around. Its a 4 bed + GF. I managed to have 4 separate tenants in the house and the GF tenanted all on settlement day..ridiculously easy...

Receiving
$240 p/w for master bedroom (+ ensuite + walk in robe)
$185 for bed2 (+ ensuite)
$160 for other 2 bedrooms
$260 for GF

I'm not sure if its because the property presents well and has a "new" feel about it (despite being built in 1984) or because maybe the rental slump has bottomed out. Would like to hear other IP owners views on the state of the market in the last few months.

 

[property_girl]

Rohan: You did well. I take it you didn't have a property manager. Is it a group house? If so, what kind of group is it? I have a six-bedroom house in Canberra and I have said no to groups living there. I would be interested to hear of your experiences with groups.

I took a $350 drop (per week) in rental for one of my properties because of the slump (which I still believe is because of the change of government. I see what happens every time there is a change: the Libs have a laissez-faire approach to government, and consequently fewer public servants).

 

[Jamie M]

Recently purchased a place in Florey - Settled July 25th. I negotiated access before settlement to show potential tenants around. Its a 4 bed + GF. I managed to have 4 separate tenants in the house and the GF tenanted all on settlement day..ridiculously easy...

Hi Rohan

Well done -that's a great result.

How did you advertise for tenants?

Are they students?

Cheers

Jamie

 

[Jamie M]

I took a $350 drop (per week) in rental for one of my properties because of the slump

Bugger - that sucks.

Just knocked off $40 p.w for one and it was snapped up pretty quick.

Have one advertised at the moment where we dropped the rent by $80 p.w and now the inquiries are starting to flow.

Have to take the good with the bad - it will change again.

Cheers

Jamie