5 Canberra Properties Under $1 Million
Inside the nation’s capital for less than 7-figures.
4 min
3/38 Coxen Street Hughes ACT 260
A modern fresh townhouse packed with loads of features is headed to auction.
The 3-bedroom, 2-bathroom, 2-garage home sees plenty of light-filled spaces, high ceilings and modern features such as exposed brick adorn the home.
Central to the home is the designer kitchen including stone surfaces with overhead feature pendant lighting.
Elsewhere the master bedroom on the lower level boasts access to the courtyard, walk-in robe and ensuite.
Timber floors are found throughout the living space while the covered alfresco area on the first level is pet and kid-friendly.
Located in the heart of Hughes in the central Woden Valley, moments to the Canberra Hospital, with easy access to the airport and into the City centre.
The listing is being managed by Belle Property Canberra and is heading to auction. belleproperty.com/canberra
3B Muroch Street, Lyneham, ACT
The beautifully finished 3-bedroom, 2-bathroom, 2-car space townhouse locating in Lyneham offer style and convenience in one.
The North facing rear of the townhouse brings in plenty of natural light while cleverly designed to maximise the space at every turn, and a large fully enclosed rear courtyard with direct access into the underground garage provides an excellent opportunity for outdoor entertaining.
With two family rooms located on the ground floor, discover the convenience and added benefit of separate living spaces. The spacious kitchen is finished to a high level, with ample storage and cupboard space and a large stone kitchen bench top perfect for all of your eating and cooking needs.
The location sees Lyneham High School based at the bottom of the street and the wetlands a short walk away.
The listing is with LJ Hooker Canberra, priced at $925,000; canberracity.ljhooker.com.au
40/29 Thynne Street, Bruce, ACT
Positioned in the highly sought-after Liberty Estate in Bruce comes this freestanding townhouse boasting 3-bedroom, 2-bathroom, 20car garage.
Across a single level, the flexible floorplan sees an open plan kitchen living and meals area in the heart of the home flows out to the formal living and dining room.
Completing the layout is a remote double lock-up garage.
Elsewhere the home hosts three generous sized bedrooms – all with walk-in robes – while the master suite enjoying its own ensuite.
Entertaining is easy with a central, private courtyard accessible from the family room and formal lounge.
Located in a prime pocket of Bruce, the home is close to cafes, shops, transport and parklands.
The home will be auctioned on Saturday 7 August 2021.
The listing is managed by Ray White Canberra; raywhitecanberra.com.au
52/1 John Gorton Drive Wright, ACT
The modern residences in Molonglo Valley are just a short drive from the city.
Here, the spacious open plan living and modern kitchen – complete with Caesar stone benchtops and Ariston appliances – produce an ideal place to entertain.
On entertaining, the outdoor space is perfectly appointed for relaxation.
Elsewhere four bedrooms are available, all of which contain inbuilt storage. The master suite is complete with a private ensuite.
Debut residents will enjoy an idyllic family-friendly living all within moments of the new Stromlo leisure centre, walking and mountain biking trails, local parks, schools, cafe’s and shops and within easy reach of Canberra City, Woden and Belconnen.
The listing is with inStyle Estate Agents, $779,900; instyleagents.com.au
15/2 Blamey Place Campbell ACT
In the heart of Canberra’s most desirable inner-north suburb comes this curated townhouse with 3-bedrooms, 2-bathrooms and 2-car parking.
Set over three levels with a considered floor plan comes a chic kitchen, replete with European appliances and porcelain benchtops that leads towards two separate living areas on the ground floor.
The second floor sees two bedrooms and a full-sized bathroom while the third level is reserved for the master suite. Here, it boasts an oversize bedroom with ensuite, and a flexible space that could be a sitting room or additional living space that flows out onto a private alfresco area.
Ideally positioned within a boutique development of just 19 residences it is nearby to Campbell Park, Anzac Parake Lake Burley Griffin and more.
The listing is with Will Honey, The Property Collective and is headed to auction August 7, 2021. propertycollective.com.au
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
This may be contributing to continually rising weekly rents
2 min
There has been a substantial increase in the number of Australians earning high incomes who are renting their homes instead of owning them, and this may be another element contributing to higher market demand and continually rising rents, according to new research.
The portion of households with an annual income of $140,000 per year (in 2021 dollars), went from 8 percent of the private rental market in 1996 to 24 percent in 2021, according to research by the Australian Housing and Urban Research Institute (AHURI). The AHURI study highlights that longer-term declines in the rate of home ownership in Australia are likely the cause of this trend.
The biggest challenge this creates is the flow-on effect on lower-income households because they may face stronger competition for a limited supply of rental stock, and they also have less capacity to cope with rising rents that look likely to keep going up due to the entrenched undersupply.
The 2024 ANZ CoreLogic Housing Affordability Report notes that weekly rents have been rising strongly since the pandemic and are currently re-accelerating. “Nationally, annual rent growth has lifted from a recent low of 8.1 percent year-on-year in October 2023, to 8.6 percent year-on-year in March 2024,” according to the report. “The re-acceleration was particularly evident in house rents, where annual growth bottomed out at 6.8 percent in the year to September, and rose to 8.4 percent in the year to March 2024.”
Rents are also rising in markets that have experienced recent declines. “In Hobart, rent values saw a downturn of -6 percent between March and October 2023. Since bottoming out in October, rents have now moved 5 percent higher to the end of March, and are just 1 percent off the record highs in March 2023. The Canberra rental market was the only other capital city to see a decline in rents in recent years, where rent values fell -3.8 percent between June 2022 and September 2023. Since then, Canberra rents have risen 3.5 percent, and are 1 percent from the record high.”
The Productivity Commission’s review of the National Housing and Homelessness Agreement points out that high-income earners also have more capacity to relocate to cheaper markets when rents rise, which creates more competition for lower-income households competing for homes in those same areas.
ANZ CoreLogic notes that rents in lower-cost markets have risen the most in recent years, so much so that the portion of earnings that lower-income households have to dedicate to rent has reached a record high 54.3 percent. For middle-income households, it’s 32.2 percent and for high-income households, it’s just 22.9 percent. ‘Housing stress’ has long been defined as requiring more than 30 percent of income to put a roof over your head.
While some high-income households may aspire to own their own homes, rising property values have made that a difficult and long process given the years it takes to save a deposit. ANZ CoreLogic data shows it now takes a median 10.1 years in the capital cities and 9.9 years in regional areas to save a 20 percent deposit to buy a property.
It also takes 48.3 percent of income in the cities and 47.1 percent in the regions to cover mortgage repayments at today’s home loan interest rates, which is far greater than the portion of income required to service rents at a median 30.4 percent in cities and 33.3 percent in the regions.
Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
