11 Reasons to invest in Canberra properties
Canberra Properties
Canberra is a city of close to 500,000 people in the Australian Capital Territory, the capital of Australia. It has been ranked as the most liveable city in the world by The Economist Intelligence Unit for 7 consecutive years, with its quality of life also ranked at first in 2013.
Canberra is in the perfect location for those who want to be close to both Melbourne and Sydney, with choices that are more affordable and on top of that good job growth potential.
The area is also known for its natural beauty and low population density. For this reason, it attracts a lot of tourists from all over the globe, which then gives a boost to the economy, creating more jobs as a side effect.
Canberra properties provide high-quality, low-maintenance housing for their buyers. A lot of people who are looking for a property investment in Canberra will find that the Canberra property has a lower risk of the property underperforming or depreciating than other investments.
This leads to Canberra properties being a great choice for real estate investors. They can enjoy a safe and sound return on their investment, while also having an easy time finding tenants to fill the place up.
This blog will explore 11 reasons why Canberra property investment can be a great choice for you.
1) AUSTRALIA’S #1 UNIVERSITY CITY
Canberra is home to 6 universities that educate over 64,000 students from around the world. Both the University of Canberra and Australian National University are ranked in the top 10 across Australia. ANU is #1 in Australia and ranked 29th in the world.
2) INTERNATIONAL CITY
In 2019 the Canberra International Airport serviced around 84,400 international passengers.
3) EDUCATED WORKFORCE
Woden is home to Australia's major health and education facilities including the Office of Healing Services, the National Australian Indigenous Agency, the Australian Government Department of Health, ACT Health, the Department of Social Services, Medicare Services, Access Canberra and IP Australia. Nearly 40% of Commonwealth public servants live and work in Canberra.
Source: Dennis Richardson, ex-ASIO director-general and former secretary of the Foreign Affairs and Defence Department. June 11, 2019.
4) POPULATION GROWTH
The ACT is projected to grow by an average annual 1.5% in population between now and 2041, well above the national average.
5) 0.9% VACANCY RATE*
Canberra has a low rental vacancy rate of 0.9%. This means finding a tenant for an investment
Property is fairly easy compared to most states.
Source: SQM Research
6) STAMP DUTY ADVANTAGE
Stamp duty in the ACT is barrier free and tax deductible within the first year of purchase. There is no foreign surcharge.
7) 4.4% UNEMPLOYMENT RATE*
Employment growth is strong in Canberra with planned funding in 2021 support existing and future employment. Unemployment rate in Canberra is the lowest in Australia.
Source: ACT Government Treasury
8) $3 BILLION
The ACT Government is investing $3 billion in physical and digital infrastructure in the ACT over the next 4 years. When the government invests huge sums of money into infrastructure, they are anticipating growth for the future, this is one for the key signs for place with growth potential.
9) 3rd BEST CITY IN THE WORLD
Canberra was named Lonely Planet’s third best city in the world to visit in 2018. Yes, you read it right it wasn’t Sydney or Melbourne, it was Canberra.
10) AUSTRALIA'S HEALTH HUB
Woden is Canberra and the nation's 'home of health.' Canberra Hospital, Department of Health, ACT Health and the Centenary Hospital for Women & Children are all situated here. A good city needs good health care facilities
11) PERMANENT RESIDENCY
Canberra is the only regional area that allocates points towards permanent residency. A property over $250k is worth 5 points in Canberra Matrix & additionally the minimum taxable income for 491 visa holders is currently $53,900 pa, which means purchasing a property to meet the requirements is a good option for the applicants.