Five Canberra Properties Under $750K

82C Wentworth Avenue Kingston ACT

Located in Kingston comes this well-valued, house-sized apartment with 2-bedrooms 2 bathrooms, 2-car parking, and impressive outdoor spaces.

Inside the single-level design sees quality fittings and fixtures including modern kitchens with AEG appliances, private balconies, and courtyards and more.

Further, the building comes with three design schemes to choose from and is uniquely positioned in the heart of Kingston.

The listing is with McGrath North Canberra, $668,950; 82wenworth.com.au

2 Blamey Place, Campbell ACT

Just 19 beautifully crafted homes arranged in three separate buildings form the MICA complex.

Here, the 2-bedroom, 2-bathroom, 2-car parking apartment offers over 90sqm of living and features natural materials, organic sculptural forms and clean lines.

Inside the designer kitchen is equipped with high-quality European appliances, while generous balconies and a rooftop terrace make it easy to entertain.

Think of this as your desirable, inner-north suburb base.

The listing is with Canberry Properties, $690,000; micacampbell.com

32 Corinna Street Phillip, ACT

This 3-bedroom, 2-bathroom, 2-car parking residence in Phillip offers rich spacious living. Just steps away from Westfield Woden and public transport, this Cox Architecture-designed building captures natural light from sunrise to sunset.

Inside, choose from two different interior schemes ‘light’ and ‘shadow’ which alters the timber details and marble benchtops and splashbacks in the kitchen and bathroom.

Extras of living with ‘the shard’ including spaces include a concierge, gym, yoga studio, wellness centre, executive lounge, wine cellar, communal lounge, piano bar, and rooftop garden with plunge pool.

Offers above $745,000; https://theshardwoden.com.au/on-show/

59 Currong Street, Braddon, ACT

In this 2-bedroom, 2-bathroom apartment a private retreat awaits you. The generous central living and dining areas separate the two bedrooms, while clever positioning of the bathrooms provide a further buffer.

The entertainer’s kitchen is replete with SMEG appliances, while a generous balcony is ideal for entertaining.

The master bedroom is surrounded by light courtesy of full-height sliding doors opening to the balcony on two sides.

Nearby to ‘Dawn at Founder’s Lane’ is a host of bars, cafes, restaurants, and the cultural hub of Gorman House.

Elsewhere the residence offers 2-car parking.

Offers above $710,000; founderslane.com.au

803/45 Furzer Street, Woden, ACT

This stunning north facing 3 bedroom loft apartment is located in the Albemarle building on levels 8 and 9.

Here, the apartment boasts 3.4-metre high ceilings on the lower level and 2.7-metre ceiling in the bedrooms upstairs and arrives with 3-bedrooms and 2-bedrooms.

The apartment has been customised to include a downstairs powder room and bathtub in the main bathroom, ducted reverse cycle heating & cooling as well as a SMEG induction cooktop and pyrolytic oven.

It also arrives with secure car spaces and overlooks the gardens and pools.

Located in the middle of Woden, all conveniences are at one’s fingertips.

The listing is with Colliers International; $739,000. Colliers.com

Ray White’s chief economist, Nerida Conisbee says property price growth will continue next year and mortgage holders will need to “survive until 2025” amid expectations of higher interest rates for longer.

Ms Conisbee said strong population growth and a housing supply shortage combatted the impact of rising interest rates in 2023, leading to unusually strong price growth during a rate hiking cycle. The latest CoreLogic data shows home values have increased by more than 10 percent in the year to date in Sydney, Brisbane and Perth. Among the regional markets, price growth has been strongest in regional South Australia with 8.6 percent growth and regional Queensland at 6.9 percent growth.

“As interest rates head close to peak, it is expected that price growth will continue. At this point, housing supply remains extremely low and many people that would be new home buyers are being pushed into the established market,” Ms Conisbee said. “Big jumps in rents are pushing more first home buyers into the market and population growth is continuing to be strong.”

Ms Conisbee said interest rates will be higher for longer due to sticky inflation. “… we are unlikely to see a rate cut until late 2024 or early 2025. This means mortgage holders need to survive until 2025, paying far more on their home loans than they did two years ago.”

Buyers in coastal areas currently have a window of opportunity to take advantage of softer prices, Ms Conisbee said. “Look out for beach house bargains over summer but you need to move quick. In many beachside holiday destinations, we saw a sharp rise in properties for sale and a corresponding fall in prices. This was driven by many pandemic driven holiday home purchases coming back on to the market.”

3 key housing market trends for 2024

Here are three of Ms Conisbee’s predictions for the key housing market trends of 2024.

Luxury apartment market to soar

Ms Conisbee said the types of apartments being built have changed dramatically amid more people choosing to live in apartments longer-term and Australia’s ageing population downsizing. “Demand is increasing for much larger, higher quality, more expensive developments. This has resulted in the most expensive apartments in Australia seeing price increases more than double those of an average priced apartment. This year, fewer apartments being built, growing population and a desire to live in some of Australia’s most sought-after inner urban areas will lead to a boom in luxury apartment demand.”

Homes to become even greener

The rising costs of energy and the health impacts of heat are two new factors driving interest in green homes, Ms Conisbee said. “Having a greener home utilising solar and batteries makes it cheaper to run air conditioning, heaters and pool pumps. We are heading into a particularly hot summer and having homes that are difficult to cool down makes them far more dangerous for the elderly and very young.”

More people living alone

For some time now, long-term social changes such as delayed marriage and an ageing population have led to more people living alone. However, Ms Conisbee points out that the pandemic also showed that many people prefer to live alone for lifestyle reasons. “Shorter term, the pandemic has shown that given the chance, many people prefer to live alone with a record increase in single-person households during the time. This trend may influence housing preferences, with a potential rise in demand for smaller dwellings and properties catering to individuals rather than traditional family units.”