Gotta Love Canberra :D

Gotta love Canberra :D
We signed contracts for our IP about 8 or so months ago now, it is still not built, but should settle in about 5 mths. In that time not only has the value increased a little (about 20k in my estimation), but so has the rental value. When we signed contracts it was likely to achieve a rent of about $430p/w, but we got a REA appraisal in today (still based off the plans) and they are estimating between $460 - 480 p/w if it were completed and on the market today. This matches up with what I have been seeing in the market lately. Actually there is a 3 bed townhouse just a couple of streets down from my IP block, where they are asking $510p/w. I am eagerly waiting to see if they are able to achieve this price - certainly won't be bad for me if they do. :)

Now I realise that obviously the house hasn't been completed yet and that all of this is conjecture at the moment, but I am liking this upward trend I am seeing - especially as we based all our initiall affordability and servicability figures on only acheiving $410 p/w (I like to be conservative ;) ).

Hmmm... already planning the next one, but just cann't commit until we settle on this one...
 
Yeah the rental market is crazy. A 3 bedroom unit in our Nicholls complex just rented for $490!

Because the rents are so high out this way, we're going to turn our PPOR into an IP and buy a new PPOR down in Tuggeranong (closer to the folks).
 
COOL RR , thats the beauty of off the plan, i remember trying to explain to you, that if its a big building and it takes 2 years to build then its 2 years of gains you have made,

thanks for the rental feedback its great, ;)
 
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