Canberrans looking to downsize have limited options

While the sprawling home on a quarter-acre block remains the ideal property for many families, the low-maintenance, cost-effective alternative of townhouse living is an extremely attractive option for a growing number of Canberra buyers.

“It’s a happy medium between a house and an apartment,” Luton Property Weston Creek director Tim Burke says. “For some it’s an affordable entry to the market place, for some it’s a downsize. They rent very well so they’re also a good investment.”

Real Estate Institute of the ACT president Frank Pompeani says while townhouse development is always present in new suburbs, there is a shortage for this type of property in Canberra. “We could most definitely do with more townhouses,” he says. “There has been an uplift in the number of downsizers buying townhouses.”

It’s an issue Peter Blackshaw Real Estate Woden and Weston Creek agent Deborah Blaine says is all too common among older Canberrans.

“The government is encouraging people to downsize but they still need a place to go,” she says. “If the government could provide housing there’s a lot of people who would sell their big homes. I just think there’s a real gap in the market.”

HIA executive director for ACT and southern NSW Neil Evans says more townhouses in established areas would be the ideal solution for many buyers. “If a couple of seniors were looking to downsize and they had the opportunity to move into a townhouse or dual occupancy in their existing suburb, that would be an amazing opportunity,” he says.

“A lot of young people would also probably choose to get into their first home by buying a townhouse rather than an apartment.”

David Shearer, the director of project planning at Independent Property Group, says single-level townhouses are highly sought after by older Canberrans. However, existing sites would need to be rezoned to encourage this type of development. “The highest demand without question – and just about unsupplied – is the single-level townhouse for people who want to age in place or want to buy a property without stairs.”

Shearer says virtually all new townhouse developments comprise two or three-storey residences as a higher level of density is driven by planning policy and well accepted by younger buyers.

He says that some of the Mr Fluffy sites will be rezoned to allow for single-level townhouses in existing suburbs. Any further supply would be hugely beneficial for Canberra’s ageing population. “Generally speaking, a single-level townhouse is essentially the first choice for our parents when they choose to leave the family home. 

“It would be their No. 1 choice before looking at an apartment, but there’s virtually no supply for this kind of property, and faced with that reality, many people just stay put.”

While two-storey townhouses remain the standard floorplan across Canberra, Evans says there are things downsizers can do to make the most of a multi-level property.

“If they’re getting on in age and concerned about stairs, there are stair climbers and different things they can put in,” he says. “They’re not hugely expensive but it’s something they should consider if they need assistance.”

Evans says some townhouses are designed so the main rooms are on the lower level. “Sometimes in the design there could be a significant bedroom or en suite downstairs so you don’t have to commute up and down.”

It’s not just downsizers driving the demand for townhouses. Many first-home buyers and families are seeing the lifestyle benefits these properties can offer.

“The cost in the ACT is all around the land,” Evans says. “If you can reduce the land size and get a couple of townhouses on it, you’ve got a fairly affordable product.”

And if you’re not going to be using a big backyard regularly, there’s little point in paying for it.

“There are a lot of reasons why townhouses are a product that consumers and the industry would be more than happy to see, particularly in the infill sites,” hesays.

Things to consider when buying a townhouse

• Government assistance: It’s not just first-home buyers who are eligible for assistance. Peter Blackshaw’s Deborah Blaine advises seniors to look into the over-60s home bonus scheme. For eligible applicants, duty is payable at a concessional rate. Details can be found on the ACT Revenue Office website.

• Body corporate: REIACT’s Frank Pompeani​ says the fees for strata title townhouses are generally reasonable. However, separate title townhouses, which are few and far between, are highly sought after, Luton’s Tim Burke says.

• Number of storeys: A two- or three-level townhouse makes good use of the land and is an ideal choice for many buyers. However, a single-storey home, or a townhouse that can be adapted to cater for ageing in place, may be the preferred option for older buyers, HIA’s Neil Evans says.

• Maintenance history: Pompeani advices checking body corporate notes and having a look at the history of a property to ensure there are no major issues. 

Townhouse wins out over apartment because of outdoor space

Franklin’s townhouse development Delmar is now complete and its first residents are moving in.

Delmar comprises 40 townhouses in a range of three-bedroom designs. They have been highly sought after by a range of buyers from first-home buyers to families and downsizers.

Dhaval Bhavsar has bought a three-bedroom two-storey townhouse in the development, which he says was the perfect choice for his family of four.

“I wanted either a house or townhouse,” he says. “It’s a good location and a growing area. The shopping centres and schools are nearby and the tram will be coming on to that part of the road as well.”

Bhavsar says the home provides the ideal amount of room for his family, while the outdoor area was a huge consideration for whole family. “One of the reasons I didn’t want to move into a unit was because we wanted a pet.”

The Bhavsars plan on adding a weimaranerdog to their family once they’ve settled in.

There is just one townhouse left in the development and available for $410,000. Phone Independent Property Group agent Andrew Potts on 0404 895 162. EER: 6.5.

44 Bentham Street, Yarralumla
$1 million +

“I always thought that I’d live in a house with a big garden but it has been so easy to live here. I love the location, it’s close to everything and now it’s time for someone else to enjoy.” Owner Chris

This is a one-of-a-kind townhouse that combines contemporary elements with timeless features.

Situated in a private position at the top of Bentham Street, the separate-title residence has  four bedrooms, plenty of space throughout and lovely views to Mount Ainslie.

A paved front garden and courtyard provides a welcoming entrance and secluded space for entertaining.

Once inside you are greeted by a family and meals area that opens onto another private courtyard. The family and meals area has  double-glazed windows and polished concrete flooring. A separate split-level sitting and dining room includes floor-to-ceiling windows and lots of natural light.

The kitchen has been renovated with stainless-steel bench tops, a movable island bench and ample storage space.

All four bedrooms are on the upper floor. Three have built-in wardrobes and share a renovated bathroom, while the master bedroom has a walk-in wardrobe, updated en suite and full-length windows overlooking the front courtyard and parkland.

Set within walking distance of the Royal Canberra Golf Club, Yarralumla shops and Lake Burley Griffin, the home offers the ideal setting for young families, professional couples and downsizers alike.

No. 44 Bentham Street, Yarralumla, is open this Saturday from 1-1.30pm and Tuesday from 5-5.30pm. It will be auctioned on Saturday, August 1 at 10am, on site.

Phone Luton Properties Weston Creek agents Tim and Justine Burke on 0411 878 587 or 0411 481 096. EER: 4.5.