What Investors Need to Know About North Canberra’s Rental Market

Source: https://www.northcanberra.org.au/suburbs/

North Canberra (known as Inner North locally) caters to a range of lifestyles and offers a blend of urban life amenities and tranquil living. It is a popular choice among both home buyers and investors. 

In this blog, we’ll discuss what you need to know if you’re considering a real estate investment in Inner North. 

About North Canberra: Lifestyles, Amenities and More

The Inner North region has a large shopping district, a vibrant local arts scene and great food and nightlife options that cater to every budget. The local Canberra Centre is the heart of shopping and entertainment, with the largest mall in Canberra and the Canberra Theatre Centre. Braddon is known for its trendy cafes and boutiques. Acton has a mix of dining, art and greenery. Dickson is known for its speciality galleries and delicious Asian cuisine.

Suburbs like Braddon attract younger residents, particularly millennials and professionals. With cafes, restaurants, bars, and boutique shops at a walking distance, this area is known for its lively atmosphere. People are able to walk to work, their favourite dining spots and the closest entertainment venues. Due to the population density in these regions, you’re most likely to find apartments for sale and available for rent. 

Other suburbs, such as Campbell and O’Connor, are more family-oriented. Along with some apartments, townhouses and homes are more common here. There is an abundance of parks and green spaces, along with easy access to nature reserves and walking trails. The area is well-connected by public transport, offering residents quick and easy access to the city centre. These suburbs are also known for their excellent public and private schools, which is why families prefer them. 

Rental Demand in the Inner North

In terms of rental demand, both short-term (e.g., 2 to 12 months) and long-term leases (e.g., 2+ years) are common, each serving different renter needs. Short-term leases are more suited to professionals and government workers on temporary assignments. Long-term leases are preferred by families and those looking for stability. 

The apartment market, particularly in areas like Braddon and Turner, is popular with young professionals who are looking for modern living spaces. Many of these apartments are well-suited for short-term leases, catering to government employees, contractors, or professionals working in Canberra on temporary postings.

For families or longer-term residents, there is a strong demand for houses and townhouses, especially in quieter suburbs like O'Connor and Campbell. These properties typically have larger living spaces. Longer-term leases are more popular here. 

Independent Insights: Investing in North Canberra

Take an in-depth look at why North Canberra is an ideal location for property investment.

Pros of investing in this area

North Canberra has a unique blend of short-term and long-term tenants, with many professionals coming to the city on a project basis. The presence of government offices means that investors have a unique opportunity to leverage the short-term stay lifestyle of these professionals. Short-term leases, supported by a trusted property management company like Independent Property Group, can be a good opportunity for investors. Short leases also let homeowners access their property between stays, giving them more visibility over the condition of their unit.

North Canberra offers a balanced mix of urban living and natural beauty, making it an attractive area for a wide range of residents. Braddon, one of the key suburbs in the Inner North, is particularly popular among the younger demographic due to its cafes, specialty shops, restaurants, and bars. Beyond Braddon, the quieter, family-friendly suburbs are known for their renovated properties, making them desirable for families. These suburbs have excellent public and private schooling options.

North Canberra also has well-used tram and bus routes, particularly along the tram line that extends to Gungahlin and connects residents to all parts of Canberra. This public transport connectivity increases property demand, as more people seek out homes with easy access to the tram.

In the Inner North, residents can enjoy green spaces just a short walk away from their homes, contributing to a high quality of life. Additionally, major events organised by the ACT government are often held in and around the Inner North. Living here means you’re within walking distance of these amenities. 

Our recommendations and strategies for a successful investment

Investing in North Canberra offers a variety of opportunities, but you need to consider a few factors. 

1. Target short-term stays: North Canberra's proximity to key government buildings, the city center, and major event venues makes it ideal for short-term stays. With Canberra being a hub for government workers and professionals on temporary assignments, offering short-term rental options could help diversify your income stream. Inner North properties get great returns on short stays, which means that investors can pay the mortgage back that much quicker. We recommend that investors broaden their horizons and not turn away from short-term leases. Independent Property Group can be your partner for short stays. We offer all property management and guest liaison services.
   
   
2. Focus on Lifestyle: The lifestyle in the Inner North is a major draw for residents. To make your property more attractive to potential tenants or buyers, ensure that it caters to their needs with modern amenities and appliances. Properties that offer these lifestyle benefits are more likely to see strong demand from younger professionals.
   
   
3. Renovation Opportunities: North Canberra’s established suburbs, such as Reid and Campbell, are home to older homes that are being transformed into modern living spaces. For investors, these properties offer a great opportunity to add value, particularly in established neighbourhoods with a high demand for updated homes.

A new investment opportunity in Turner

art.haus is a new apartment development in Turner that offers one-, two- and three-bedroom apartments. This development is very different to the current Inner North house stock, as it is designed to not cost the owners too much and keep the strata fees low. By adding amenities like ducted reverse cycle air conditioning, double vanities, and built-in fridges, these units are an excellent investment opportunity for those looking to offer short stays. 

Future Outlook and Conclusion 

With more government and corporate infrastructure continuing to develop in and around the Inner North, rental property demand is anticipated to remain strong as more workplaces and amenities come to Canberra.

By focusing on both short and long-term rentals, and understanding the area’s lifestyle, investors can capitalise on Inner North’s potential for rental yield. Get in touch with Independent Property Group, a trusted Inner North real estate agency with extensive knowledge of the region.