Off Plan Property Investment Analysis: 2602 Postcode

If you’re considering an off-plan property investment in one of Canberra’s up and coming suburbs, the 2602 postcode is an attractive option. The famed postcode is known for its central location, lifestyle amenities and scenic open spaces, and it’s no surprise that the area has seen an increase in rental demand, thus presenting savvy investors with ample opportunity for healthy rental returns and yields.

In this article, we’ll analyse the current rental growth figures, investor yield projections and property values that are driving a surge in investor interest throughout the area. Further to this, the article will have a particular focus on Lyneham – the location of Northbourne Village where we have two apartment releases available for investors at both The Sullivan and De Burgh.

An Overview Of Canberra’s 2602 Postcode

To start with, Canberra’s popular 2602 postcode is made up of several suburbs including Dickson, O’Connor, Watson, Ainslie, Downer, Hackett and Lyneham.

Known for its proximity to the CBD, local restaurant scene and surrounding walking and cycling paths, it’s not only a great postcode to call home, but it is also becoming a popular area for Canberra property investors seeking off plan property investment opportunities.

Lyneham: An Investor Snapshot

As outlined earlier, our thriving JWLand property development at Northbourne Village is situated within Lyneham, one of Canberra’s most vibrant districts. Located in Canberra’s inner north, Lyneham spans approximately 5.4 square kilometres with 17 parks in total covering over 50 of the neighbourhood. The predominant age of locals averages between 20 and 29 years old, indicating a youthful local population of young professionals, students and growing families, with most households being high income earners without children, ideal tenants for savvy investors.

In recent times the Northern suburbs of Canberra have recorded healthy appetites from new property owners looking to get into the area. In this recent All Homes article, the northern suburb of Bonner (a 17 min drive north of Northbourne Village) recorded a notable surge in first home buyers, with affordable quality homes and easy access to family-friendly amenities being credited for the demand shift.

Off Plan Property Investment In Lyneham:
A Growing Trend

There are several factors contributing to the rising demand for off plan property investment in Lyneham and throughout the 2602 postcode.

Central Proximity

The city centre is just 3 kilometres away via a short trip on the light rail service which is ideally located on the Northbourne Village doorstep. Residents are also conveniently located within minutes of the Federal and Barton highways, with the airport just 13 mins away and the Lyneham shops less than a 5 minutes drive from home.

Local Parks and Wetlands

Nature lovers will revel in the surrounding haven of leafy parklands, ovals and nature reserves, helping to create a serene backdrop to relax and unwind. The area also boasts a series of local walking trails and bike paths, offering an active suburban lifestyle with plenty of surrounding leisure facilities, with the local Sullivans Creek bike path having off-road connections to the local University and CBD.

Education Links

Lyneham and its surrounding suburbs also present the perfect opportunity for local university students, with the Australian National University (ANU) located just a 10-minute cycle away via a dedicated bike path. If you’re a young family, there are also a host of top-rated public schools within the area, including early childhood and pre-school centres for growing families.

An Enviable Lifestyle

The high-energy inner-north precinct is situated alongside Northbourne Avenue, arguably Canberra’s grandest boulevard that warrants buildings of special significance. Local residents can embrace a cosmopolitan lifestyle with nearby restaurants, craft breweries, gin bars and a thriving café culture providing the perfect social backdrop.

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Healthy Yields & Growth Opportunities

If you’re considering an off-plan property investment within Lyneham, it is worth noting that the local area enjoys 5% rental yields reported by SQM research. The suburb has also enjoyed a 5.8% per annum growth rate for units over the last 3 years, and throughout the last 12 months, the famed postcode has even seen a 22.3% growth in the median price for units, now sitting at $608,000 as reported in this REA snapshot.

The median weekly rent currently sits at an $575 for apartments in the area, and with a range of 1, 2 and 3 bedroom apartments available at Northbourne Village, there is ample opportunity for investors to enjoy some healthy rental returns. Delving deeper into projected local rent returns, data from REA Group indicates that property investors can expect to fetch the following median weekly rents for apartments in the area:

  • 1 bedroom apartments: $480/week
  • 2 bedroom apartments: $560/week
  • 3 bedroom apartments: $750/week

Lyneham – A Suburb In Demand

Given the vacancy rate in the area sits at 1.9%, competition for quality residential properties remains extremely high, in turn driving tenant demand that is ideally suited to investors.

As a result of this healthy local demand, the median time on market for rentals currently sits at just 22 days as reported by the REA Group. This indicates available rentals are being snapped up quickly by local tenants, which is news to the ears of savvy property investors.

If you are an investor looking to secure a profitable investment within a growing, vibrant community that is enjoying healthy returns and yields, we welcome you to reach out to our sales team today to discuss our available stock.

Why Invest at Northbourne Village?

As we’ve outlined above, an off-plan property investment in the Lyneham area presents an attractive investment opportunity in a growing area. With a host of apartment projects currently on the market, it can be difficult to decide on which one to invest in, so we wanted to outline the benefits of investing in Northbourne Village specifically.

Not only is the development located on arguably Canberra’s most renowned boulevard, with a host of historical buildings adding character to the area, investors are spoilt for choice with a range of new studios and 1, 2 and 3 bedroom apartments on the market.

We have a small number of brand-new apartments available at The Sullivan, with all properties ready to move into straight away without any delays. We are also currently in construction mode for our Stage 3 release at the De Burgh apartments which is on track to welcome new tenants and residents from 2025.

Behind the Northbourne Village stands the JWLand team, who are regarded in the industry as an established, reputable and experienced Canberra developer, with a proven track record of over 10 years in local property developments. All JWLand projects deliver a high-quality end product from a trusted team of experts who strive to exceed your expectations.

“Lyneham is the ideal location for savvy property investors looking to invest in a vibrant district that is conveniently situated with easy access to transport, education providers, hospitality venues and recreational facilities. It really is a suburb that ticks all of the boxes.” – Nick Babic (Project Marketing Manager | JWLand)


Enquire Today at Northbourne Village

Now is the perfect time to consider an off-plan property investment at Northbourne Village, located in the vibrant inner north district of Lyneham within the highly sought after 2602 postcode.

Not only do we have a small number of apartments left for sale at The Sullivan (Stage 2) with our final 3-bedroom apartment still available, we also have a full suite of apartments available for sale in De Burgh (Stage 3) which is our final residential release at the Northbourne Village precinct.

Don’t forget to ask about our buyer incentives, and if you are local, we invite you to book a display suite visit to view the stunning range of studios and 1, 2 and 3 bedroom apartments.