Canberra investors have an appetite for houses. While house prices rose 5.8 percent in 2017, unit prices crept at a slower rate, increasing by just 2.1 percent according to CoreLogic.
This is in line with the national trend in favour of detached housing. Many, however, still want affordable, low-maintenance homes. That’s where townhouses come in.
Who should invest in townhouses?
Townhouse developments have been on the rise in Canberra in recent years. Developments like this offer residents a happy medium between an apartment and a home. You get the convenience of a unit with the privacy and green space of a detached property.
Generally, those living in townhouses enjoy certain amenities, lower maintenance requirements and a sense of community, all of which explain why townhouses are such a popular investment right now.
Traits of winning Canberra townhouses
Not all townhouses are created equal, however. If you want one that offers high returns, be on the lookout for these three things.
- Unique selling points – With so many townhouses being built, it’s important to invest in those with standout features, such as a community gym or extra green space.
- Great location – Make sure the development you choose has good access to the CBD as well as public transport routes.
- Room to grow – Many townhouses are quite small. Finding one that’s a bit bigger, therefore, is a great way to ensure your property is consistently rented.