One of the latest trends in the Canberra property market has been the rise in development of townhouse property. Townhouses are a particularly attractive option for renters who are looking for something a bit different – meaning that if you don’t already have a townhouse in your portfolio, now is the time to snatch one up.
The rise of townhouses in Canberra
Townhouses are a great choice for renters who want something a bit bigger than your standard flat and with features like green spaces, communal areas, lower maintenance and a strong sense of community.
Both the price and volume of detached houses in Canberra rose significantly in the 2015-16 financial year, according to a report from the Housing Industry Association.
Not all townhouses are created equal
With so many options, renters are truly spoilt for choice, which means that investors need to look out for certain features that will make sure the townhouse they purchase is attractive to prospective tenants for years to come. Special amenities can go a long way, but the two big things to look out for are size and location.
Is the townhouse bigger than what’s currently on the market? Your Civium property manager can help you decide on a sound purchase and even offer insight on developments that might still be in the pipeline.
Is the townhouse in a sought-after suburb? If not, is that suburb slated for growth? Again, the right property manager can help you understand this before you make the plunge.