809/241 Northbourne Avenue, Lyneham ACT 2602
809/241 Northbourne Avenue, Lyneham ACT 2602
2 bed 2 bath 2 car on level 8 | 110 m² with EER 6 | Rooftop pool and ducted air | Northbourne corridor near light rail
This apartment stands out in Lyneham because it combines genuine size with a full amenity package. At 110 m² internal, it is considerably larger than the typical one-bedroom stock that dominates the suburb’s apartment market, and the two secure car spaces are a practical rarity for an inner-north location. The level 8 position with a sunny aspect, double-glazed floor-to-ceiling windows, and polished floors gives it a bright, open feel that smaller units in the same building cannot match. The rooftop pool and entertaining spaces add a lifestyle layer that suits owner-occupiers, particularly downsizers or professional couples who want low-maintenance living without sacrificing space or comfort. Its position on the Northbourne corridor places it within easy reach of the CBD, ANU, Braddon, and the light rail, which strengthens its appeal for both residents and tenants. This is a property best suited to buyers who prioritise space, parking, and building amenity over a quiet suburban setting.
The value of this apartment may be shaped by a few factors you should weigh carefully. The busy arterial road location could affect noise perception despite double glazing, and the mixed-use nature of the building means a more urban environment than a purely residential block. The FTTN internet connection is a modest limitation compared to full-fibre options elsewhere. Body corporate fees for a building with a pool and lifts may be higher than average, which could influence your holding costs. The 2 car spaces and 110 m² floor plan are strong differentiators that may justify a premium over smaller units in the same building, but the final price will depend on how the market values those extras against the trade-offs of a main-road address.
|| Comparable Sales: 103/241 Northbourne sold around $700k for 57 m² 1 bed; 801/241 with 96 m² plus studio also near $700k | Property Price Band: $700,000–$800,000 | Value Drivers: 110 m² internal size, 2 car spaces, level 8 sunny aspect with rooftop pool
Detailed Independent Property Report prepared by PropCred Analyst team for 809/241 Northbourne Avenue, Lyneham ACT 2602
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
2
Income Risk
Execution Risk
1
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Market Insight
Lyneham, on the Northbourne Avenue corridor in North Canberra, is close to the city centre and school catchments, drawing a mix of investors and owner-occupiers. Tight rental conditions (vacancy near 1%) and a high renter share drive demand; most owners hold mortgages. Unit yields around 5% outpace houses at 3.5%, attracting investors; a large share of single-person households supports smaller dwellings. Price momentum is mixed: median house values range from $965,000 to $1.2 million, with growth from -15.4% to +4.9%; units average $515,000 and slipped 2.8%. Turnover is thin: 39 houses and 82 units sold annually; houses sit 56 days on market. Near-term growth depends on rental demand and Northbourne Avenue connectivity, but low turnover, wide valuation spreads, and rate-sensitive mortgage exposure cap upside.
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PropCred Estimated Value
Comparable Sales: 103/241 Northbourne sold around $700k for 57 m² 1 bed; 801/241 with 96 m² plus studio also near $700k | Property Price Band: $700,000–$800,000 | Value Drivers: 110 m² internal size, 2 car spaces, level 8 sunny aspect with rooftop pool
Bedrooms
2
Bathroom
2
Parking
2
Land
114m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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