House Value – Canberra
The infrastructure of a city is something that no matter who you are, where you live, will impact you, your quality of life, and the value of your house. The infrastructure of a city is in many ways the backbone. You need it to work, and to work well in order for a city to run smoothly. The city of Canberra has what has been described as a strong, and constantly developing infrastructure, with great hospitals, an established transit system, and access to the utilities that needed to maintain our quality of life.
The city of Canberra is home to two public hospitals, including: The Calvary Public Hospital, that homes approximately 174 beds; and the 600-bed Canberra Hospital, which up until recently was known as The Wooden Valley Hospital. In addition to these public institutions, the city is home several other large scale health care institutions, including: Healthscope’s National Capital Private Hospital, The Calvary John James Hospital, and the Calvary Private Hospital. The city’s health care and local hospitals are considered to be among the best in the country, with patients brought in from all over New South Wales. The excellent and highly acclaimed health care system that the city of Canberra offers its residents has made quite an impact on the city’s house values. With most residents considering this an attractive point in the city.
Infrastructure is not just the health care and hospitals that a city has, but the transit and the regular upkeep of roads as well. Canberra is a city that is home to primarily young adults, many that are starting their careers, and many as recent graduates, that do not have the financial freedom to drive to work each day, and pay for downtown city parking. Unfortunately due to the way that the city is laid out, the primary mode of transportation is still the car. There is a bus system that runs through the city, however, it does not go out as far as all of the residential areas do.
The city is designed so that houses and communities are built in a cluster like design, with open areas and forests separating the suburban communities from the city core. It is because of this, that the primary focus in terms of local transit and road upkeep has been to keep the connecting roads in great shape for the commuters, verses expanding the transit system to serve the areas further out. In terms of how the transit has impacting the value of houses in Canberra, house values increase the further in towards the main city you go. If you live in an area that is further out and does not receive any public transit service, you are missing an opportunity that those who live closer in do receive. These are the opportunities that impact a houses’ value.
Canberra is a city that is able to easily access the many resources and utilities that we have come to rely on every day. Utilities like gas, electricity, and water are all easily attainable, and have been priced to at comparable rates. House values in areas that do not have proper and stable accessibility to these utilities and resources have much lower house values, and experience a dramatically lower growth in population. Without these opportunities, residents are not able to live the quality of life that they have become accustomed to, nor a city without these utilities and resources able to provide its residents the opportunities that make both the residents and the city thrive.
When looking for a new city to live in, finding one that has a strong and developed infrastructure is extremely important. This will not only impact your quality and ease of life, also the house values throughout the city. Infrastructure is one of the biggest impacts actually, on the value of homes within a city.