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Canberra most affordable?

johnboy 12 March 2009 35

The Chiefly Jon Stanhope informs us that thanks to his West Macgregor slum building the ACT can now boast that it “remains the most affordable jurisdiction to own a home”.

    “The 62 initiatives contained in our Affordable Housing Action Plan, combined with low interest rates and the Rudd Government’s boost to the First Home Owner Grants, are helping to ensure the ACT remains the most affordable jurisdiction to own a home,” Mr Stanhope said.

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35 Responses to Canberra most affordable?
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maza maza 9:07 pm 25 Mar 10

ACT houses are way overpriced…..more affordable housing needs to be built quickly!!! i see land everywhere yet they say there is no land…..

rulazy2 rulazy2 10:27 pm 21 Mar 09

bd84 said :

The original Macgregor is bad enough.. add more low income housing in the same area, and we know what the end result will be. The government has done pretty much nothing for “affordable housing” particularly in the new gungahlin suburbs, where the average house price would probabably be over $450k still.

Its not low income housing. At $400,000 i doubt that is low income housing. What will be the end result? You seem to know it all, can you please tell me what the end result will be?

Have a look at the area and then make a comment.

rulazy2 rulazy2 10:23 pm 21 Mar 09

Thumper said :

West Macgregor looks like a hole, and it’s not even finished yet.

Wow,thats just a great comment! I currently doing a jigsaw puzzle and the picture looks like crap. I havent finished it yet and ive only been doing it for a day, but i may as well stop because i dont like the look of it already. My parents bought a house in holt in the 70’s then moved to Weetangera in the 80’s and went to braddon in the 90’s. The point being they had to buy out in Holt because it was all they could afford. As they got more money the closer in they went. I can afford to buy in Braddon and pretty much most suburbs but i dont think there is much point is spending that much on a house in
Canberra. I bought in west Macgregor and have investment properties around Perth and in Melbourne. I picked up two houses in Melbourne for cheaper than i could buy in Canberra. If you look at the market at the moment you are nuts to buy a house in Canberra unless its a new built. An auction in Page went for $360,000 for a house that was a 3 BR. Nothing special, 4 walls and a roof. Some one paid $407000 for a house that had unapproved stairs to the front door. Theres an auction next week for a house that has so much unapproved work it easier to list whats approved and the real estate agent was telling people that offers over $450000 would be listened to before the auction. People have been paying over $15000 more than the asking price lately. None of the houses that i saw were worth it. Its easy to knock something you have never looked into, next time have a look at the plans for the place before making a comment

rulazy2 rulazy2 8:53 pm 21 Mar 09

Gumby said :

Canberra has some of the most overpriced property in Australia. West MacGregor will get the worst smell coming from the tip when the wind picks up esp. In west macgregor and ginninderra ponds in dunlop, the blocks are tiny, backyards are non-existent as builders try and fit as much house as possible on small blocks. developers and builders buy several blocks and build identical houses next door to each other. With cheap fittings and huge price tags. The only cheap housing is one of the new two bedroom places they are building in Forde….outrageous.

Are you an idiot! What smell from what tip? I wasnt aware that the Belconnen tip was still open. as for the blocks, have you looked around Canberra for a house lately. I have and i can tell you that there are a lot of crap houses being sold for way over what they should be. I went to one dump in Melba last week and it was on the market for $380000. I could buy a new house with double garage and ensuite for that at West Macgregor. Not much difference in travel time or block size. Have a look at some of the large blocks in Holt or Higgins or any corner block. You may as well not have that extra size as you cant use it. Most of the houses out there are not identical to each other, i think you need to have a look out there before you make such stupid comments. You really need to have a look at what is around the area before you open your big mouth, The houses are cheap compared to alot of areas. The house we got is EER of 6 with solar elec, water tank new built, carpet, ensuite, double garage, light fittings, tiled, front yard sorted out for us for less than $370,000 on a useable 600m square block. Have fun finding that any where else in Canberra. It takes less than 20mins to get to work, and i get to live in a house that no one else has.

VYBerlinaV8_the_one_they_all_copy VYBerlinaV8_the_one_they_all_copy 8:43 pm 13 Mar 09

McGregor isn’t great, but it’s not that bad really. There are certainly worse suburbs.

Jim Jones Jim Jones 8:41 am 13 Mar 09

bd84 said :

The original Macgregor is bad enough..

WTF?

VYBerlinaV8_the_one_they_all_copy VYBerlinaV8_the_one_they_all_copy 6:11 am 13 Mar 09

Although housing has become a lot more expensive in recent years, it has also become a lot larger, with average dwelling sizes increasing by around 50%.

affordable affordable 11:52 pm 12 Mar 09

sorry, hax #19

affordable affordable 11:50 pm 12 Mar 09

LOL hax #12 the trouble is this is actually true
the trouble with affordability is government interference, they created a land shortage that has led to huge increases in the price of land in a very short period, they have created lots of extra conditions that add substantial extra cost and for minimal benefit
all of which has added massive income for the government and they give nothing back, except pathetic attempts like the land rent fiasco.
actpla used to charge for development approvals, now they charge the same fee for doing nothing, the certifier now does this job and charges $800
every new house must have a watertank, connected to nothing, and saving 40% of water use

youami youami 11:03 pm 12 Mar 09

2604 said :

JimT said :

So why all the negativity?

In a word, ignorance.

Half of the ppl posting here think that a 50-year old, original condition ex-govvie in the Inner North is a complete bargain at $450-500,000.

You got yourself a brand new place, in a location that suits you, for less than that. My advice is to ignore the negative comments above and enjoy your new home.

I agree as well. Let people rant. There will always be stereotypical views on where people live. I personally would never live in the suburbs but that is my choice, but that doesn’t mean I treat suburbs with contempt. I just like convenience and pay for it. I live in Barton, pay $500 week rent for 2 bedroom unit, but that is my choice, but I do save $100 a week in petrol to get to shops and work because I don’t travel as far. I also don’t want or need a house with a yard. It comes down to choice and fit for purpose.

I agree there is affordability issues in ACT. When I moved down here from Sydney I initially paid nearly $100 more a week in rent for an equivalent property than what I was paying in Sydney. One of the reasons, besides poor planning and lack of supply, is the long-distance and transient commuters from Sydney and Melbourne who come down here Mon-Thu and where private companies acquire serviced apartments and short-term rentals. I am in a block of units where conservatively they are only about three-quarters occupied at any one time but all are fully leased. It is the same I believe in Darwin. Smaller city but disproportionately expensive and same supply issues due to its transient nature of the population.

And is the great Australian dream just a thing of the past now?

Deckard Deckard 9:24 pm 12 Mar 09

Magregor West is near the Belconnen Golf Course. It’s going to go from Parkwood Rd, where the houses are now, all the way up to Ginninderra Ck near Dunlop.

bd84 bd84 9:13 pm 12 Mar 09

The original Macgregor is bad enough.. add more low income housing in the same area, and we know what the end result will be. The government has done pretty much nothing for “affordable housing” particularly in the new gungahlin suburbs, where the average house price would probabably be over $450k still.

peterh peterh 9:08 pm 12 Mar 09

2604 said :

JimT said :

So why all the negativity?

In a word, ignorance.

Half of the ppl posting here think that a 50-year old, original condition ex-govvie in the Inner North is a complete bargain at $450-500,000.

You got yourself a brand new place, in a location that suits you, for less than that. My advice is to ignore the negative comments above and enjoy your new home.

agreed, but as i mentioned earlier, where is the new suburb of west macgregor? evan at the old belconnen golf course, when the breeze was just wrong, you could smell the treatment works….

I thought that it might have been the new flats and houses that were built near the golf course. as no-one has provided me prior to my post as to where it was, I was labouring under an assumption.

and 450-500k is waay out of my reach. I will settle for an outer suburbs house….

2604 2604 8:45 pm 12 Mar 09

JimT said :

So why all the negativity?

In a word, ignorance.

Half of the ppl posting here think that a 50-year old, original condition ex-govvie in the Inner North is a complete bargain at $450-500,000.

You got yourself a brand new place, in a location that suits you, for less than that. My advice is to ignore the negative comments above and enjoy your new home.

Ruby Wednesday Ruby Wednesday 7:50 pm 12 Mar 09

The affordability metric is, I believed, based on average income. This allows the raw prices to be higher but Canberra to be ‘affordable’ because the average wage is higher than (I’m guessing here) every other jurisdiction, where there is a far wider geographic and social range to take into account when determining that average.

As caf said, stamp duty concessions are hard to qualify for here. A few weeks of acting last year put us just over the threshold by a couple of thousand, so instead of paying $500 we ended up paying $11,000, as there is no tapering to the concession.

hax hax 6:36 pm 12 Mar 09

ant said :

To get affordable housing, they need to stop sellign blocks to developers who then cram the biggest, silliest house they can on it to scam megabucks off cashed-up families.

LOL, instead they should sell blocks to cashed-up families, so they can cram the biggest silliest house they can, with their megabucks 😉

JC JC 6:27 pm 12 Mar 09

peterh said :

hah! i remember when it was all paddocks, and the fassifern farm road was a great treaddly track.

dunlop was where we charny kids used to play. now a new suburb. always thought it would be a golf course….

west macgregor would get the molonglo treatment odors, surely?

Not likley. The treatment works are miles away down a valley. The tip maybe, but having lived in Dunlop myself, in sight of this new development I can tell you I never once smelt tip odours.

canberra bureaucrat canberra bureaucrat 6:16 pm 12 Mar 09

Canberra housing fails on most measures of affordability, so the government has done something clever to make this the most affordable (either clever calculations so it looks affordable, or clever regulations). And I wonder if the affordability will last?

As for Canberra being “overpriced” – the price is what people will pay for it. Price is not regulated (for good reason), so it is as simple as supply and demand. And since Canberra has high average income, and supply that is best characterised as a trickle, prices are high by comparison to other cities. There are probably other reasons too (e.g. population growth relative to housing supply, decreasing number of people per household and so on). This is why apartments are popping up like mushrooms.

caf caf 3:16 pm 12 Mar 09

Queanbeyan also has the advantage of no stamp duty for first home buyers (the ACT has stamp duty concessions, but they’re much harder to qualify for than the NSW ones).

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