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Tax time headache?
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The rental squeeze

By johnboy 12 December 2006 51

Our Brave Leader keeps pumping out media releases telling us that housing affordability is the best in the nation. The most recent on was just last week.

Meanwhile today’s Canberra Times is packed with anecdotes on the red hot rental market ruining peoples lives.

Apparently investors have left the market due to land tax, which begs the question? Who’s living in all those units?

And is this all a beat-up by the real estate industry trying to influence Government policy?

UPDATED: Our Brave Leader has put out a media release saying the whole thing is a put-up job by the real estate industry and anyway he’s got a steering group out looking for “factors promoting affordability that the ACT Government can influence”.

What’s Your opinion?


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The rental squeeze
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VYBerlinaV8 9:19 am 14 Dec 06

I had a look through the Kingston forshore display apartment, and I have to say I wasn’t hugely impressed. The view was ok, but the units themselves nothing extra special. I don’t think the design will age well, but that’s just my opinion.

shauno 7:06 pm 13 Dec 06

Sorry Kingston Foreshore I was talking about if thats what you mean by waterfront

shauno 7:05 pm 13 Dec 06

I think the waterfront site so far looks shit and very sterile. There something about it that makes it all look a bit depressing im not sure what it is but it doesn’t do it for me.

johnboy 11:01 am 13 Dec 06

The size of the building is certainly remarkable, and “unbelievable” can go both ways.

Jazz 10:56 am 13 Dec 06

Shauno,

do you think if independant described the development as anything other than “unbelievably outstanding” and “remarkable” that they’d have interest.

“come look at out new appartments, they are quite average, have crappy appointments and have no views to speak of”. That to me sounds like a sure fire marketing strategy.

VYBerlinaV8 9:16 am 13 Dec 06

Cheers pjreggard – I’ll check it out.

The reason I like the inner city is because some apartments can be leased on a long term basis to the serviced apartment market. My current properties are set up this way, and work very well.

That said, if a 3-4 bedroom house will return the numbers I’m after, I’ll definitely be checking it out.

shauno 6:27 am 13 Dec 06

Can some one tell me whats so good about the Metropolitan development.

On the Independent website they describe it as “unbelievably outstanding” and “remarkable”

I just can’t wait to get back to Canberra and have a look it must be a once in a life time opportunity hehehe

pjreggard 6:24 pm 12 Dec 06

VY Belina, If I were you I wouldn’t be purchasing an inner city unit for investment purposes. While rents for these places will rise the massive supply will mean they wont rise as much as 3-4 bed houses. A better yield (and similar capital growth) would be achieved by investing the same amount in a dowdy house in tuggers/belco to be rented to a crowd of PS grads. It is the house market where rents will rise fastest and hardest – just ask any clued in agent 😉

Comment by VYBerlinaV8 —

FC 4:43 pm 12 Dec 06

Thanks Jazz.

Jazz 4:28 pm 12 Dec 06

FC,
We allow you to say whatever you want on this forum & will only censor if it becomes too abusive or disruptive to other readers. just remember that you own your comments in the same way that you would if you shouted them out in the queue at woolworths. Check the FAQ if you want to know more.

Absent Diane 4:27 pm 12 Dec 06

silly song lyrics… nothing anyone has is really theirs unless it is physically attached to them. So my arms are mine, likewise my legs, feet and genitalia. I can define that.

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