Question 1

Is Turner a nice place to live?

Accepted Answer

Turner is a delightful suburb that offers a harmonious blend of urban convenience and natural allure, making it a wonderful place to call home. Nestled just north of Canberra's bustling city centre, Turner is known for its charming leafy streets and a vibrant community atmosphere. The suburb is a hub for students, professionals, and families, thanks to its proximity to the Australian National University and the city’s cultural institutions. With a mix of modern apartments and older, character-filled homes, Turner provides a variety of housing options that cater to diverse lifestyles.

Families will find Turner particularly appealing due to its safe environment and access to quality schools and parks. The suburb's close-knit community is complemented by an array of local cafes and shops, offering a lively yet relaxed vibe. While Turner may not boast the nightlife of some inner-city areas, its proximity to the Braddon dining precinct ensures that residents have easy access to a variety of dining and entertainment options. The suburb's excellent public transport links, including the light rail along Northbourne Avenue, make commuting a breeze, further enhancing its livability.

However, living in Turner does come with some trade-offs. The high demand for housing, driven by its desirable location, means that property prices can be on the higher side, and the rental market is competitive. Additionally, while the ongoing development projects bring modernity and increased housing supply, they may also lead to increased density and a more urban feel over time. Despite these considerations, Turner's vibrant community, convenient amenities, and beautiful green spaces make it a fantastic choice for those seeking a balanced lifestyle in Canberra's inner north.

Question 2

Is it expensive to live in Turner?

Accepted Answer

Living in Turner can be quite costly, especially when considering the property market. The median house price in Turner is a steep $1,950,000, which is significantly higher than many other areas in Canberra. If you're looking at units, the median price is more approachable at $643,750, but still on the higher end compared to other suburbs. Renting in Turner is also pricey, with the average rent for houses at $850 per week and units at $595 per week.

When you compare these figures to the average wage in the ACT, which is approximately $28 per hour, it becomes clear that a significant portion of one's income would need to be allocated towards housing costs. The median total household income weekly in Turner is $2,330, which suggests that while some households may comfortably afford these prices, others may find it challenging. Overall, if you're thinking of living in Turner, it's important to consider whether your financial situation can accommodate the higher cost of housing in this desirable inner Canberra suburb.

Question 3

Is Turner a good place to invest?

Accepted Answer

Turner is showing promising signs as a good place to invest, especially if you're looking at the housing market. Over the past year, the median house value in Turner has jumped by an impressive 20.1%, indicating strong capital growth potential. This kind of increase suggests that the area is in demand and that property values are on the rise, which is always a positive sign for investors looking for appreciation in their investments.

While the growth in unit values has been more modest at 5.6%, it still represents a steady increase, which can be appealing for those who prefer a more stable investment. However, rental growth has been relatively slow, with house rents increasing by just 1.2% and unit rents by 0.3% over the past year. This suggests that while property values are climbing, rental returns might not be as strong in the short term.

Overall, Turner's significant rise in house values makes it an attractive option for investors seeking capital growth. The slower rental growth might be a consideration for those focused on immediate rental income, but the long-term potential for property appreciation could outweigh this. Turner's central location and ongoing demand make it a suburb worth considering for investment.

	Houses	Units
Median price Past 3 months	N/A	$653K
Change in value Past 12 months	29.6%	6.0%
Sold Past 3 months	8	36
Median days on market Past 12 months	78	62
Average rent Past 12 months	$850	$580
Change in rent Past 12 months	1.2%	-0.9%

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