The changing face of Canberra property
12 November 2016
It may seem like a greedy grab from developers to turn a block of land into a high rise with hundreds of apartments and commercial use facilities; however, this isn’t how many of the “new age” property buyers in Canberra see it.
Given our sparse parcels of land and comparatively small population, the last 100 years in Canberra has been focused on new home developments on reasonably-sized blocks of land, and small unit and townhouse developments comprised of less than 100 strata title properties.
The last few decades have seen an explosion of larger apartment blocks in CBD locations such as Canberra City, Woden and Belconnen, and new suburbs including Lawson, Crace, Wright, Coombs and Denman Prospect (many of which will rival Braddon as the record-holder for population density).
And while these apartments provide purchasers with an affordable way to buy into a new suburb in a sought after location, the size of the developments is relatively small when compared to the newcomers on the Canberra property block: large scale multi-unit residential, commercial and mixed-use buildings.
Such developments include the likes of New Acton, Kingston Foreshore, Campbell 5 and the planned Section 200 in Belconnen.
These huge, complex strata developments comprise hundreds of apartments across multiple buildings that sit on top of a carefully planned selection of restaurants, cafes, supermarkets, cinemas, offices and so on. Residents often have access to a concierge/front desk, communal pool, gym and outdoor seating and garden areas.
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