Would anyone like to speculate what will happen in the next 12 month? There are so many poor economic signs not sure if I still want to be in the property market.
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Would anyone like to speculate what will happen in the next 12 month? There are so many poor economic signs not sure if I still want to be in the property market.
Inner city stock is probably about as expensive as it will get for a while. New land releases (especially Molonglo Valley) are small blocks and damn expensive (around $1000 per sq metre of land). .
$1000 per sq metre sounds just nuts.
Why is land in Canberra so expensive? It's surrounded by farmland worth $5000 per hectare, or 50 cents per sq metre. And it's not like Sydney or Melbourne where it can be an hour to get to work so people will pay exorbitant amounts to be close to the CBD. It wouldn't take long to get from the edge of Canberra to the CBD.
Why wouldn't people buy a small farm just out of town? Have 20 hectares and some horses and stuff? Still just a short drive to work. Better than being ripped off senseless?
See ya's.
Thanks.
So buyers in Canberra are punting that land availability stays tight?
I suppose it will too, if it's controlled by the government. There is still a bit of risk there though. I wouldn't take that risk. There are too many options everywhere else where supply of land is controlled by natural shortages, not some public servant sitting behind a desk and computer being paid to limit supply.
See ya's.
Can't see how ACT prices can go up any higher relative to income.
There are also significant differences in the supply of residential property within the City which will also have a major influence in structuring different population and household futures over the next five to twenty years. Large new 'greenfield' opportunities have been identified in the growth areas of Googong and South Jerrabombera region (Tralee-Environa-Robin). Continued infill and redevelopment in the more urban parts of the city (Queanbeyan, Queanbeyan East and Crestwood) is also likely to occur. There are likely to be other greenfield, rural residential and most notably infill development opportunities throughout the City, albeit at lower levels than the major growth areas identified above. Areas such as Jerrabomberra and Karabar are likely to have very low levels of residential development by comparison with recent decades due to scarcity of greenfield land for development.[/url]
So the supply of an alternative to the tight land release will be dropping.
Question : what happens in 5-10 years time when all the oldies with 2 or 3 IPs start retiring and leaving ACT ?
Can't see how ACT prices can go up any higher relative to income.
why would you think they would leave canberra ?
folk that dont live here just dont get it , ??
why would you think they would leave canberra ?
folk that dont live here just dont get it , ??
Because Canberra is a crap hole. I don't know why anyone would stay in this joke of a place if it wasn't for work. Go somewhere decent along the coast.
Or take advantage of poor people in melbourne or sydney (and by that I mean take advantage of what the cheap retail and hospitality industries). Frigging $4 for a coffe in the ACT.
Brother retired last year after 40 years in the public service, left as quick as he could, guess he just didn't get it.
Cheers
Pete