When it comes to drinking, dining and socialising in Canberra, Kingston is the “Triple Threat”.
The lines between Kingston and Kingston Foreshore have started to blur over the last few years, and fun can be had in both areas. “Old” Kingston village is home to many renowned local businesses, whilst the foreshore has a contemporary waterfront vibe with an assortment of bars, restaurants and modern apartments.
Things to do
On the weekend, the Old Bus Depot markets are the destination for unique finds and gourmet treats. Catch a glassblowing demonstration next door at the Canberra Glassworks Hotshop (fascinating for the whole family), wander up to Silo bakery for morning tea, or hangout for lunch at the institution, Brodburger (the place you’d take an interstate visitor for a burger they’ll visit Canberra again for!). A stroll or leisurely cycle along the Foreshore or nearby Lake Burley Griffin will remedy any over-indulgences.
By evening, food, wine and books sum up the literary epicurean dream that is Muse at East Hotel. A top-notch restaurant with its adjacent bookshop brimming with a carefully curated selection of titles is a must-visit destination for locals and out-of-towners. Morks along the foreshore is the go-to destination for Canberra’s best contemporary Thai food, or if it’s laid-back pub fair and atmosphere you’re after, you can’t go past The Dock on the Foreshore or The Durham (previously the Boot and Flogger – the place for live music during 1970s-80s), in Green Square. There really is something for everyone.
Fun facts
Established in the early-mid 1920s, Kingston grew from Giles Street and Kennedy Street. Green Square and Jardine Street were developed in the mid-1950s. Kingston was named after Right Honourable Charles Cameron Kingston (1850-1908) who was the Premier of South Australia from 1893-99 and represented South Australia at the Federal Council Meeting in 1889 and at the 1891 and 1897-98 Federal Conventions. Kingston was also the Minister for Trade and Customs in the first Commonwealth Government. All of Kingston’s streets are named after explorers.
Why live and invest here
According to www.yourinvestmentpropertymag.com.au, Kingston property has experienced a slight decline with a negative growth pattern since 2015. However, vacancy rates have improved from 6% in March 2017 to 3% this year. According to CoreLogic property data, “The median apartment value has fallen to below $520,000 following a drop of 1.9% in the period of March 2017-2018”.
There is still upside to the market with landlords able to pocket “an average rental yield of 5% at an average weekly rent rate of $500. Units are also being sold at an average discount rate of only 4.7%, suggesting that there is reasonable demand”. ACT unemployment rates also remain low. “The unemployment rate of 3.9% is low – even below the NSW average,” says Kate Forbes, national director of property strategy at Metropole Property Strategists (Source: ACT Excerpt From The 2018 December Market Report).
Data from the 2016 Census defines the median Kingston resident age as 33 years old, with most residents identifying as professionals who work an average of 35-39 hours per week.
The unique charm of old Kingston lies in its tree-lined streets are leafy green in summer, vibrantly coloured in autumn, and light-filled in winter when the trees release their leaves. An established suburb also means luscious established gardens which are easily appreciated thanks to low-rise apartment design.
The Kingston Foreshore has the makings of Barangaroo with glamorous waterfront views and stylishly designed outdoor space. Again, the low-rise design allows ample views from apartment balconies, as well as the alfresco bars and restaurants lining the water’s edge. Kingston is not only a convenient commute to Civic or Parliament Circle and numerous government locations, it’s also a hub for those who like to wine, dine and mingle.
Maloney’s has a particular soft spot for Kingston as it is home to our head office. Drop in and discuss your next property move with one of our agents, we’re at the heart of the Inner South on the corner of Giles and Jardine Streets.
