Canberra popular for renovators: HTW

Canberra popular for renovators: HTW
Canberra popular for renovators: HTW

Renovations are common in Canberra, according to a recent Herron Todd White report.

The property valuation firm says that Belconnen, Woden Valley and Weston Creek are among the suburbs popular for renovations.

“Buyers looking to renovate in the ACT tend to gravitate towards the outer areas such as Belconnen, Woden Valley and Weston Creek.

“There are also some opportunities in the inner north suburbs of Lyneham, Watson and Downer.

“The majority of these houses were built in the 1960s and 1970s and are on much larger blocks than are available in new suburbs,” the report stated.

“Significant capital growth has occurred recently Herron Todd White says.

“Recently there has been some significant capital growth in these areas and well renovated houses have been selling at a premium.

“In some cases renovators prefer the character of an older house but want the functionality of a modern home.

“This is especially true for original houses built in the 1930s, 1940s and 1950s in suburbs such as Ainslie, Braddon, Campbell and Yarralumla.

“They are relatively small houses however are often on large blocks meaning there is good potential for extension.

“The majority of renovations in the ACT are in the detached housing market.

“Unit renovations have been done however the large supply of new apartments currently on the market has meant that the profits are relatively low for these projects.

Owner-occupiers seem to be the most common to complete renovations on houses in the ACT,” the report commented.

A recently renovated three bedroom house at 13 Longworth Place, Holt (above) was listed on June for $495,000.

Built in 1972 it has since been sold in July for $490,000.

Another three bedroom house at 10 Eggleston Crescent, Chiefley (below) has been listed for $625,000 plus.

Built in 1960 it last sold in 2016.

Canberra popular for renovators: HTW

A recently renovated five bedroom house at 5 Homann Place, Flynn (below) was sold in May for $746,500.

Built in 1975 it last sold for $610,000 in 2010.

Canberra popular for renovators: HTW

Similarly a recently renovated three bedroom house at 21 Bendora Crescent, Palmerston (below) was sold in May for $681,000.

Built in 2001 it last sold in 2002 for $240,000.

Canberra popular for renovators: HTW

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