Dire warnings as Canberra’s rental crunch worsens
Property
Canberra's rental crisis is deepening at a time when there is usually some recovery from the beginning of the year influx of new workers and students, and there are industry warnings that the situation is only going to get worse. The latest data from SQM Research shows the ACT's vacancy rate in March unmoved at a suffocating 0.5 per cent,...
Marketplace Gungahlin hits the market, looking for offers exceeding $400 million
Property
Marketplace Gungahlin has hit the market with a price guide exceeding $400 million. Currently owned by property group Vinta, the high price has been set on the back of a substantial period of growth for the retail industry and recognition that Gungahlin is one of the fastest-growing regions in Australia. The centre features "major tenants" Woolworths, Aldi, Kmart and Big...
Plan to let tenants seek landlord references ‘spirited, but won’t work’
Property
A proposed policy to allow tenants to ask prospective landlords for their references has been applauded as a good idea on paper, but not in reality. The idea first gained traction online after it was floated by comedian Tom Cashman on Tik Tok. But Labor backbencher Michael Pettersson took the proposal a step further. Mr Pettersson last week introduced a motion...
Accused of ‘strangling land supply’, government says no simple answers to questions of housing affordability
Property
It has been accused of 'strangling' land supply and ruining Canberrans' hopes and dreams of detached homeownership, but the ACT Government is firm in its belief that there is no such thing as a "simple solution" to the housing affordability crisis. Opposition Leader Elizabeth Lee tried to move a motion in the Legislative Assembly today (22 March) calling on the...
Gungahlin mixed-use college project gives students a place to call home
Property
A Canberra training college has unveiled plans for a major mixed-use development in Gungahlin that will include a hotel and serviced apartments for student accommodation. Architect Judd Studio has released Canberra Business and Technology College's plans for community consultation ahead of a development application. The college last month lodged a development application for its new Gungahlin campus on the corner...
Tenants on the road to home ownership thanks to not-for-profit real estate agency
Community
Getting a foot on the first rung of the property ladder might seem impossible in the current market, but there's one Canberra real estate agency that's giving middle-income earners a much-needed leg-up. HomeGround Real Estate matches generous landlords with reliable tenants who are working towards buying their home but may be struggling to save a deposit because they are completing...
Would increasing land supply solve the ACT’s housing woes?
Property
Critics say the ACT Government is to blame for the housing affordability problem because it's not releasing enough land. It's a point raised as regularly by one side of politics as it is refuted by the other. But the housing industry argues while there's some truth to it, nothing is black and white. In annual report hearings earlier this week,...
Training college lodges DA for new Gungahlin campus
Property
The private Canberra Business and Technology College has lodged plans for its proposed new vertical campus in Gungahlin as part of a two-building mixed-use development. The $33 million project on the corner of Gungahlin Place and Camilleri Way (Block 4, Section 246) to the south of the Town Centre comprises eight and nine-storey buildings standing side by side with two levels...
What the reimagined Gold Creek Homestead Precinct will look like
Property
Lendlease will transform the historic Gold Creek Homestead Precinct in Ngunnawal with a three-storey, 100-bed aged care facility and 45 single-level residential villas while maintaining the heritage core, according to a master plan submitted for public consultation ahead of a development application. The ACT Government selected Lendlease after a nationally advertised sale process. The property giant has already been consulting...
Second apartment building in revised Gungahlin Town Centre development
Property
A large mixed-use development proposed for the southern edge of the Gungahlin Town Centre will now include a second apartment building offering "cold-shell" units that allow buyers to design their interior and layout. Core Developments had originally proposed 329 dwellings for the corner of Camilleri Way and Manning Clarke Crescent (Blocks 5 & 6 Section 249 ) in a mix of...
Gold Creek development plans revised after community input
Property
Development giant Lendlease has tweaked its plans for redevelopment of the historic Gold Creek precinct in Gungahlin in response to community feedback about parking and traffic, the safety of the site, landscaping and restoration of some of the buildings. Lendlease has proposed 45 independent living units and a residential aged care facility for the Ngunnawal site. In August 2021, the...
Big changes on way to fix Canberra’s ‘broken’ planning system
Property
Development applications will remain on the planning website for five years and decisions will be published under proposed changes to the planning system announced today by Minister for Planning and Land Management Mick Gentleman. The changes are part of a suite of proposals in draft legislation to make the system simpler, more flexible and outcomes-focused, and less of a box-ticking process....
How steepling rents and house prices are crunching the ACT’s low to middle income earners
Property
Two reports this week have highlighted the growing housing divide in the ACT, in the rental market, and between renters and homebuyers. Read as a whole, the findings show a worsening situation for renters paying out more of their income to keep a roof over their heads while facing more competition from the growing number of people being locked out...
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