Canberra’s Newest Suburb Inundated With Interest
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Canberra’s Newest Suburb Inundated With Interest

Ginninderry’s Macnamara house and land release is the capital’s hottest property.

By Terry Christodoulou
Mon, Jan 24, 2022 3:42pmGrey Clock < 1 min

Last week, Ginninderry — a joint venture between the ACT Government and Riverview Developments — released 71 blocks of land and 55 house and land packages in Canberra’s newest suburb, Macnamara.

With the land being sold by ballot, Kanebridge News understands that at the time of writing Ginninderry has recorded approximately 4500 registrations, with the ballot closing on February 4 2022.

The acute level of interest in the new suburb follows an unprecedented 2021 that saw residential property in Canberra rise 24.9% in value over the calendar year, according to data from CoreLogic, reaching a new median price of $894,338.

The suburb of Macnamara — named after Dame Jean Macnamara— is the second suburb in the award-winning Ginninderry project,  located to the west of Strathnairn and bordered by a conservation corridor with spectacular views of the Brindabella Mountains.

Project Director Steve Harding said the launch of Macnamara was an exciting milestone.

“More than 750 people now call Ginninderry home in our first suburb, Stratihnairn, so as we move into our second suburb, we have an opportunity to further our commitment to inspire a new way of living,” explained Mr Harding.

“Part of that will see Macnamara become the first Canberra suburb with all homes requiring a minimum 7 Star Energy Rating.”

In addition to its sustainability credentials, liveability is said to be at the forefront of the suburb’s design with access to nearby dog parks, new recreation and picnic areas,  bus stops and cycling paths throughout Ginninderry and into broader West Belconnen.

Blocks of land in the first release range in size from 350sqm to 935sqm, with ballot registrations closing on 4 February 2022.



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The first quarter of the year brought some long-awaited signs of recovery in London’s luxury housing market, offering the first positive quarterly price growth since September 2022, according to a report from Savills on Wednesday.

After six consecutive quarterly price falls, luxury home prices in central London levelled out in the first three months of the year, with a 0.1% quarterly uptick in prices. The £3 million to £5 million (US$3.79 million to US$6.32 million) market saw a slightly larger increase of 0.3%.

Outer London’s luxury market saw greater quarterly price growth, with home prices up 0.8%, as some stability returned to mortgage costs and lured more buyers back to the market, according to the report.

All of this is evidence that the market is “in early stages of recovery,” according to Lucian Cook, head of residential research at Savills.

“The outlook for the housing market has certainly improved, partly because the mortgage market has recovered more quickly than expected,” Cook said in the report. “With the first rate cut rapidly coming into view and recessionary risks easing, greater stability has returned to the cost of mortgage debt, which has positively impacted domestic prime markets, where many buyers rely on borrowing, most notably in leafy outer prime South and West London, as well as the commuter belt.”

Outside of London, prices across the U.K. saw no quarterly growth heading into the beginning of the spring market, which is expected to bring higher levels of buyer activity in many regions.

Suburban regions saw prices dip just 0.1%, while urban areas—like Edinburgh and Glasgow in Scotland, and Bath and Oxford in England—saw prices increase by 0.6%.

Cook said regional buyers are more likely to be concerned about market uncertainty than London buyers in the lead up to the general election.

“As a result, buyers are still expected to be less committed until the dust has settled,” he said.

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