House prices bounce back but interest rates are biting
Property
Canberra house prices have bounced back from their first fall in nearly three years in May to end the financial year with a slight increase despite rising interest rates and a bleak winter. The latest monthly data from CoreLogic shows an overall increase of 0.3 per cent in June, reversing the May decline of 0.4 per cent. The median house...
How NSW’s stamp duty shake-up compares to the ACT’s
Property
When the NSW state budget was handed down this week, it contained policies that may have sounded familiar to Canberrans. That's because NSW - a Liberal-run state - has plans to completely overhaul its property tax system in ways that are not so dissimilar to a program of reform the ACT's Labor-Greens Government first embarked on more than a decade...
Unique, private home has room to move
Property
Not a fan of gardening? Have a love of privacy, security and a touch of serenity? This home at 8 Arawang Avenue, Palmerston, could be just what you're looking for. Boasting two stylish floors of elegant living, plus a large north-facing balcony, this home is tastefully decorated with lovely colours and finishes. Built in 2002, it includes three bedrooms, two bathrooms and...
Brisbane landlords face rates hikes for renting on Airbnb – should we follow suit to increase rental stock?
Property
Property owners in Brisbane who put their homes on the short-term rental market have been told to return them to the long-term rental market or pay 50 per cent higher rates. The move is a response to extremely low vacancy rates - something Canberra is also experiencing. The vacancy rate in the Queensland capital was around 0.6 per cent in...
College lodges plans for apartments, hotel in Gungahlin
Property
Canberra Business and Technology College has lodged plans for its three-building, mixed-use development in the Gungahlin Town Centre. It will include serviced apartments and a hotel. The college, which offers a range of vocational courses and plans to expand into the growing cyber security market, has already lodged a development application for its new Gungahlin campus on the corner of...
Housing ACT accused of using ‘loopholes’ that threaten Bush Capital character
Property
Housing ACT is again coming under fire for trying to cram too many supportive housing dwellings onto its renewal blocks in Canberra's residential suburbs and threatening the character of the Bush Capital. The latest proposal in Carslaw Street, Chifley, aims to put six units on two blocks totalling nearly 2000 square metres, leaving little room for green space or trees. At...
House prices fall for first time in nearly three years
Property
ACT house prices have done what they have threatened all year to do - gone into retreat after riding high for nearly three years. CoreLogic's latest data for May show overall residential property holding steady, edging down just 0.1 per cent, but stand-alone houses, after falls in some Canberra suburbs already this year, dipped 0.4 per cent. It may provide...
No expense spared on this hi-tech luxury home in Taylor
Property
Less than one year old, this innovative property showcases the latest and greatest design trends and smart home technology. Independent Property Group sales consultant Mark Larmer says 9 Yali Street in Taylor is the ultimate hi-tech home, offering comfort and environmentally friendly living. He says there's no need to find a block of land and spend time designing and building...
High rents, low supply: industry questions timing of rental reform, including minimum standards
Property
The picture for Canberra's renters is not looking pretty, with the latest rental affordability snapshot showing things are getting worse, especially for those relying on Federal Government support. At the same time, the ACT Government is proposing a swathe of reforms to strengthen residential tenancy laws, including minimum standards for rental properties. But some fear this will not help alleviate...
Hip LA-inspired Nue precinct to promote ‘walkability’ in Gungahlin
Property
Inspired by the walk streets of Venice Beach, Los Angeles, Gungahlin's Nue lifestyle precinct will promote walkability and cycle friendliness in one of Canberra's fastest-growing areas. LJ Hooker Project Marketing ACT selling agent James Herbert says the Core Developments neighbourhood has been designed for residents who want to make the most of the open public spaces. "A walk street 'spine' will wind...
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...
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