809/241 Northbourne Avenue, Lyneham ACT 2602
809/241 Northbourne Avenue, Lyneham ACT 2602
2 bed 2 bath 2 car on level 8 | Rooftop pool and light rail nearby | Premium finishes over typical Lyneham stock | Mixed-use corridor with city views
This unit stands apart from most Lyneham apartments through its combination of elevated level 8 positioning, double-glazed windows, exposed concrete ceilings, and a designer kitchen with island bench. The tandem parking for two cars plus storage cage is a practical edge rarely found in comparable inner-north units, while the rooftop pool and secure lift access lift the everyday experience. It serves downsizers wanting lock-and-leave convenience with strong city access, and professionals or ANU-affiliated buyers who value the short commute and modern industrial aesthetic over suburban quiet. The building’s 2014 construction and EER 6 rating place it ahead of older Lyneham stock, and the sunny aspect with natural light supports strong rental appeal if that becomes the strategy.
The Northbourne Avenue frontage may introduce traffic noise and corridor activity that some buyers find less restful than internal streets. The mixed-use nature of the building, with commercial tenancies on lower levels, could affect perceptions of residential exclusivity, though it also adds convenience and foot traffic. The unit’s value may be influenced by how the tandem parking arrangement suits practical use, and by the broader light rail proximity that continues to shape demand along this corridor. Floor level and outlook are likely to support a premium over lower units, but the exact configuration should be verified against the strata plan given some data inconsistency across platforms.
Detailed Independent Property Report prepared by PropCred Analyst team for 809/241 Northbourne Avenue, Lyneham ACT 2602
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
Income Risk
2
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 $470,000; 709/241 similar 2-bed configured around $500,000–$550,000 | Property Price Band: $600,000–$700,000 | Value Drivers: level 8 outlook, tandem parking, premium finishes and building amenity
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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