Living the high life: How to choose an apartment that has good resale value

There’s no shortage of apartments in Canberra and that’s not likely to end anytime soon, particularly with additional incentives and stamp duty exemptions just released.

Dallas Harry of JWLand says the buyer response has been immediate.

“In 10 days, I issued 23 contracts, just on The Parade in Campbell 5,” he says. “We have had great momentum coming out of the lockdown.”

Harry says most buyers are chasing time and lifestyle, and want to live closer to work.

“New apartments close to the city or on the light rail are always in demand,” he says.

He says multi-stage developments also offer a kind of guarantee on quality.

“These demand a significant financial commitment over a number of years and ensure developers maintain attention to detail,” he says.

“Word-of-mouth endorsement from previous buyers is essential as each new stage comes to market.”

Tigran Amiyants, of Northbourne Valuers, is called upon by banks or mortgage brokers to provide valuations that can make or break lending approvals. Buyers also engage him to provide an independent opinion ahead of property auctions.

“Location is as big a factor with apartment valuations as it is with detached homes,” he says.

“Depending on that location – generally the greater the square metres you have, the better the valuation.”

Amiyants says, however, that formula doesn’t necessarily work in the other direction.

“Banks tend to cap minimum living area size at 50 square metres for the purpose of finance approval,” he says.

• Location. The better the location, the stronger the likelihood that an apartment will appreciate at the higher end of year-on-year unit price growth. Apartments close to the city or town centres are sought-after.
• Size. Three-plus bedroom apartments are still in short supply and in demand from downsizers. The relative rarity of these bigger footprint apartments is virtually a guarantee of better price growth performance.
• Long projects. Developments brought to fruition over several stages are usually characterised by an ongoing commitment to quality. This ensures strong word-of-mouth endorsements from previous buyers and enhances new buyer confidence.

Allhomes’ top pick of apartments for sale in Canberra:

Braddon

Price guide: $1.5 million

View property

If you’re going to live in an apartment, why not make it the penthouse?

You’ll get more space and you’ll get more luxury. You’ll just get more more. And that often includes views.

That’s certainly the case with this three-bedroom beauty that sits atop Founders Lane, right on the city doorstep.

It’s just a stroll to shops, restaurants, cafes, bars, cinemas, even a bowling alley.

But you can just as easily cocoon in your top-floor luxury and simply watch the world go by from your comfortably enclosed winter garden (terrace) or outdoor balcony.

This penthouse enjoys a roomy 166 square metres and draws in plenty of light through a north-facing kitchen, living and master bedroom.

Expansive floor-to-ceiling windows offer panoramic views while thermal and acoustic comfort is assured through double glazing to windows, glass sliding doors and the Winter garden.

There are two roomy living areas joined by Australian Blackbutt timber flooring; the second area is adjacent to the minor bedrooms and family bathroom. It’s a great option to give guests more privacy or to offer children a space of their own.

The kitchen is highlighted by engineered stone benchtops, an impressive line-up of Smeg appliances, pendant and strip lighting and a cavernous walk-in pantry.

The master bedroom enjoys a generous walk-through robe and an ensuite with under-tile heating and a free-standing tub.

Four car bays are allocated to the penthouse.

Or try these:

Braddon

Price guide: $469,000 +

View property

Kingston

Price guide: $949,000

View property

Canberra City

Price guide: $1.6 million +

View property