While many people make the mistake of calling Sydney the capital city of Australia, the honour actually goes to Canberra. Canberra was chosen to be the capital city of Australia in 1908 to prevent rivalry between the already established cities of Melbourne and Sydney.
Canberra was laid out by Walter Burley Griffin and the layout features an interesting array of circles and hexagons, with some of the main buildings such as Parliament House and the Australian War Memorial built in a symmetrical line.
Most people who live in Canberra are employed by the public service or contractors for the Australian government. Development is kept under strict control in Canberra which helps to keep property values high.
Canberra is located in the Australian Capital Territory, or ACT. All land in the ACT is owned by the government and residents can only get 99-year leases.
Canberra is divided into the following areas:
Canberra’s Top Real Estate Agents
There are a couple of leading real estate agents in Canberra that are performing head and foot over the competition. Canberra is a small city, but it does still pay to find an agent who knows the local suburb well, where your property is located.
If you would like to be put in touch with the top three performing agents in Canberra, please contact us here.
Canberra’s Property Outlook
There a number of factors which can influence Canberra’s property market. The government of the day is obviously one of the most important influences. Canberra is in someways connected to Sydney’s market and Sydney’s popularity does have a spill over affect to Canberra. Rental returns are also good in Canberra, which makes it popular with property investors.
The Australia National University or ANU is popular with overseas and inter-state students, which provides demand also for rental properties. Chinese investors are also showing an interest in Canberra, especially those with children studying at ANU.
The median house price is just over $560,000 in Canberra, making it one of the more affordable places to live in Australia as unemployment is low and wages high.
Canberra’s Best Suburbs to Live
Walter Burley Griffin’s plan for Canberra was to create a number of satellite cites, that were separated by nature reserves, while connected with transport routes. Lake Burley Griffin divides north and south Canberra. Canberra is well known for being very family friendly with many good schools.
Yarralumla: Yarralumla has a low crime rate and is next to Lake Burley Griffin. It has many parks and ovals and daycare centres for people with young children.
Kingston: Kingston has many great restaurants and coffee shops. It is a short 10 minutes walk to the lake and Kingston markets and parks.
Gungahlin – Up and coming area. Has a great community and popular with families. It has good sporting facilities including running and cycling tracks, parks and playgrounds.
Jerrabomberra – is just over the border in New South Wales, but in easy commuting distance to Canberra. It is a very community based place to live.
Belconnen – Belconnen was Canberra’s second satellite city to be built. It has good shooping areas and is home to the University of Canberra. It is regarded as a family friendly place to live.
Tuggeranong – Located on the shores of Lake Tuggeranong. It is a family friendly place, with a good community feel. The new lakeside development will also transform the city to a more lively place to live.
Canberra forde – many new, good schools and well set up for families.