Overview
Median house price: $550,000 (RP Data Feb '08)
Median Unit Price: $365,000 (RP Data Feb '08)

Braddon is an inner city suburb of Canberra. It is walking distance to the city centre as it is adjacent the CBD. It is a typical of many of the inner city suburbs of our major capital cities. There is a mixture of high density dwellings in the form of multi-storey flats and commercial buildings. However, the northern half of Braddon is lined by large detached houses. This suburb is appealing to the younger generation. This has been the catalyst for the emergence of trendy pubs and cafés in the area.

There is one public school in Braddon, Ainslie Primary School and Merici College which is a Catholic high school for girls. The shopping facilities are adequate but the large shopping centre known as Canberra Centre is nearby.

Demographics
People – There are approximately 3,600 people living in Braddon. Compared to the rest of the nation, it is a suburb that houses a young and single population. This is evidenced by a number of statistics. For example, the differences in the proportion of people aged 15 to 24 years (27.3% to 13.6%), 55 to 64 years (6.6% to 11%) and 65 years and over (7.4% to 13.3%) are quite marked. The marital status of the suburb also highlights some differences. The Australian average for married couples in a suburb is 49.6% of the population; in Braddon it is only 21.9%. The Australian average for people never married is 33.2%; in Braddon it is 64.9%[1].

Housing – There are some very remarkable figures which highlight the range of housing in Braddon, compared to the rest of the country. Only 13.2% of all dwellings are separate houses, which is in stark contrast to the Australian average of 74.8%. However, the median block size is a huge 1,691 square metres. This illustrates that even though there are many flats and units in the area, the detached houses are on very large blocks of land. Even though there are many small dwellings in Braddon, the rent is quite high. Median weekly rent is $290, compared to the Australian average of $190. More than half of the dwellings are rented in Braddon. This is not surprising as many people that shift to Canberra do so to take up contact positions in the Commonwealth public service or businesses that support the public service. Once their contract is over, they often shift back to their place of origin. Another statistic illustrating the high level of renters here is only 9.3% of the population in Braddon own their home outright, compared to the Australian average of 32.6%[2]. Investors are generally able to achieve a higher yield in Canberra due to the high percentage of renters looking for rental accommodation.

Why you should buy here

  • Considering its close proximity to the city centre (known as Civic to Canberrans), it is undervalued.
  • It is adjacent the expensive prime suburbs of Turner and Reid, which have median house prices between three quarters of a million and one million dollars.
  • There are some development opportunities as sections of the main road known as Northbourne Ave are proposed to be rezoned and will allow for medium to high density residential development.
  • There are a number of tertiary institutions nearby, the largest of which is the Australian National University (ANU). This provides an extra pool of tenants for landlords.

Areas to focus on
The detached housing section of Braddon which is north of Haig Park is appealing to owner occupiers due to the quiet streets, large homes and proximity to Merici College.

Areas to avoid
Northbourne Ave as it is the main road to Sydney and it is lined with large blocks of units, predominantly government housing.

[1] www.abs.gov.au

[2] www.abs.gov.au

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