Canberra investors should buy from exiting off the plan vendors

Canberra unit investors should look for vendors reselling off-the-plan purchases at a loss, according to Herron Todd White.

Recent construction in Belconnen, Gungahlin and in the inner north and south regions means values have dropped from peak sales at the end of 2010.

“Vendors who are desperate to make a quick sale in current market conditions are generally struggling to get top dollar for their property,” Herron Todd White’s latest monthly report says.

“This presents opportunities for informed buyers, ideally with preapproval and a strong financial grounding to make below-market offers and snare a bargain.”

Those looking for long term capital growth are advised to seek inner city houses. Too many greenfield developments on the outer regions means the best value for money remains close to the city centre and on the Kingston foreshore.

Those looking for positively geared properties are advised to look at two and three bedroom townhouses in Belconnen, Gungahlin and Molonglo.