In this section, we take a closer look at Braddon so you have a true understanding of the area and its surrounds. We digest the data that matters and take a look at the lifestyle elements that make Braddon the suburb it is.
The population has increased since 2011 by 17%
0.77% of properties in the region
are unoccupied. We don't like the rate to be above 2%. Canberra as a whole is 1%
The vacancy rates in the region
have remained steady. This shows continued demand in the area
Example Purchasing Feasibility
Average Days on Market
70 days on average to sell a home
Percentage of Sales by Auction
Auction Clearance Rates
Ratio of Renters to Owner Occupied
71% are renters / 29% are owner-occupied. We prefer renters to be under 35%. More owner occupiers generally means properties are better looked after in the area and greater demand for tenants if for an investment
Supply vs. Demand
DSR (Demand Supply Ratio) score of 62. The DSR is a number out of 100 that gauges the demand relative to supply for a residential property market. We look for this to be always over 50. 60 is great, 70 is excellent
(Asset to Income)
19.90%. This is is the percentage of the household income that goes towards paying a mortgage. We like this to be under 40%
Monthly Household Income
For Sale Now (Online)
Units - 48
Median Unit Price
Median Rent & Gross Rental Yield
$450 / 5.3%
Last 12 Month Capital Growth
Yes. Opportunity to add value through cosmetic renovations only
Bus to CBD - 9 minutes
Walk to CBD - 18 minutes
Braddon is an inner north suburb that is adjacent to the Canberra CBD. It is considered to be one of Canberra's oldest suburbs and was once known as the industrial hub of Canberra. Recently, the area has seen significant gentrification and is now the entertainment hub of the city. It is also Canberra's most densely populated suburb.
Braddon is approximately 1 kilometre to the north of the central business district of Canberra. It's approximately a 9-minute bus ride or 18-minute walk into the CBD.
The suburb is now popular with locals for its eating & drinking scene. The crowd is generally young professionals and or young families. The median age is 29 and 67% of the population are not married. 50% of the population has a bachelor degree or higher and 57% of the population was born in Australia.
Canberra is in the middle of a 10-year infrastructure plan, with the Light Rail network being at the forefront of this. Stage 1 of 2 is under construction and this is servicing the North. Whilst stage 2 will service the South, stage 3 includes the servicing of the north-west through to Belconnen.
Braddon has a dense dwelling structure of apartments, with 79% of all dwellings being apartments. There is a strong proportion of new apartments and a sprinkling of older apartments.
We don't recommend purchasing a unit in Braddon as this does not match your strategy and purchasing requirements. Although, as a suburb, it ticks a lot of boxes for gentrification and culture, it doesn't fit the perfect investment mold. There is an oversupply of units and 3/4 of the population are renting and not owner-occupied. this provides significant challenges when leasing your property, but also the general upkeep in the area. Furthermore, given the oversupply in the region, we don't forecast unit prices growing more than 2-4% from now through to 2020.
Important to note:
All land in the ACT is leasehold, not freehold. These leases are 99 years and at the conclusion of the term, it is rolled over for another 99 years. It is a system that has been in place since 1913. On single residential dwellings, your property is valued every 12 months, you are then required to pay land tax on the value of the land. This is no different to any other state when buying real estate, however, there is no threshold. When we present properties, we include this in the financial feasibility.
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* Milk Chocolate price data used on this website is sourced and relies upon information supplied by a number of external sources (including governmental authorities). This data is supplied on the basis that while Milk Chocolate believes all the information provided will be correct at the time of writing, it does not warrant its accuracy or completeness and to the full extent allowed by law excludes liability in contract, tort or otherwise, for any loss or damage sustained by you, or by any other person or body corporate arising from or in connection with the supply or use of the whole or any part of the information on this website through any cause whatsoever and limits any liability it may have to the amount paid to the external sources for the supply of such information.