Belconnen—one of the best suburbs to invest in Canberra 2023

If you are interested in property investment in Canberra, Belconnen is worth adding to your watchlist in 2023.

Maloney’s Property have noticed many great opportunities to invest in apartments and houses within Belconnen.

The main reasons why Belconnen is one of the best suburbs to invest in Canberra are:

• Belconnen is an established Canberra district
• A lot of investment and redevelopment planning is taking place in Belconnen
• There is a planned land release around Lake Ginninderra

Belconnen is one of Canberra’s most established districts

Belconnen was one of the original 18 districts of the ACT. Therefore, unlike the new areas being developed in Canberra, Belconnen is established and contains 27 already established and developed suburbs.

Belconnen has several shopping centres, with Westfield Belconnen in the Belconnen Town Centre being the largest.

In addition to the Westfield Belconnen, some of the smaller shopping centres in Belconnen include:

• Kippax Fair,
• Jamison Plaza,
• Charnwood Shops – The ACT Government is planning Public Space Improvements at Charnwood Shops in 2023,
• Hawker Shops, and
• Kaleen Shops.

There are many Australian Government Departments within the Belconnen Town Centre, including

• Department of Immigration and Border Protection,
• Australian Bureau of Statistics,
• Australian Broadcasting Authority, and
• Australian Communications and Media Authority.

There are also other great facilities, including Calvary Hospital and educational institutions, such as

• The University of Canberra,
• Canberra Institute of Technology,
• Australian Institute of Sport, and
• Canberra Stadium.

Top 10 demographics for Belconnen:

• Population close to 110,000,
• Close to 50/50 male and female,
• The median age is 35,
• 18% of Belconnen's population is under 18,
• 15% of the Belconnen population is over 65,
• 47% are married,
• 11% are divorced or separated,
• Median weekly personal income is 50 percent larger than the national average,
• 80% of dwellings are separate houses, and
• 20% of dwellings are apartments or semi-detached.

Investment and redevelopment in Belconnen

Westfield Belconnen

Scentre Group announced plans in October 2022 to revamp and overhaul Westfield Belconnen.

Some of the improvements being considered include more gardens and green spaces, better pedestrian access and ensuring the spaces meet the future needs of the Belconnen community.

They are also looking to apply to increase their current four-story height limit. Feedback closed on November 30 2022 - so stay posted for further announcements.

Belconnen Town Centre Master Plan

The Belconnen Town Centre master plan outlines significant developments and improvements in the Belconnen Town Centre out to around 2030.

If you want to invest in Belconnen apartments or rental properties in Belconnen, then the master plan will give you confidence that the ACT Government is committed to growth and development in the Belconnen Town Centre.

According to the ‘master plan’, it identifies - ‘land use, economic, social and environmental opportunities and challenges …and ‘it investigates opportunities for additional residential developments and urban renewal’.

Land release and development around Lake Ginninderra

The ACT Suburban Land Agency has sought tenders for ‘visionary developers’ to create an ‘exemplary neighbourhood-scale precinct for Belconnen’.

This is a fascinating development, with the ACT Suburban Land Agency saying that:

‘The rarity of lakeshore sites delivers additional significance to this precinct. Residents and visitors can enjoy walks and runs around the lake, and can easily access multiple green spaces. A new waterfront destination will activate this part of the waterfront and link it to the town centre along Emu Bank.’ 

Capital Food Market set to open in April 2023 in Belconnen

As if there weren’t enough reasons to own a rental property in Belconnen, then the updated Belconnen Fresh Food Markets precinct set to open in April 2023 is the cherry on the cake.

The new Capital Food Market will showcase the Canberra region’s best produce and encompass a modern European design.

The Capital Food Market is set to be the next ‘destination’ for Canberra foodies in 2023.

So, there you have it; if you are looking to invest in houses for sale in Belconnen or rental properties in Belconnen, talk to the experienced team at Maloney’s Property.

Maloney’s Property has over 30 years of experience in Canberra and the Belconnen area, assisting property investors and first-home buyers in getting into the property market.