Is Canberra headed for an apartment glut?

By The Canberra Times
Updated April 24 2018 - 12:36pm, first published December 12 2016 - 8:06am

When the ACT government lodged a development application for a prime mixed-use block in the Gungahlin Town Centre recently, it's possible several property developers had to still their beating hearts. The DA includes the construction of up to 1121 new dwellings in an area close to where the light rail line from Civic scheduled for completion within four years will terminate. And as developers know, apartments built on or close to rail lines are popular sellers off the plan to both investors and owner/occupiers. And with foreign and domestic buyers fuelling a decade-long apartment-building boom in Canberra, Brisbane, Sydney and Melbourne, the ACT government and developers may figure the sky is a deep blue all the way out to 2020.

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