Question 1

Is Crace a nice place to live?

Accepted Answer

Crace is a delightful suburb that offers a harmonious blend of modern living and community spirit, making it a wonderful place to call home. Known for its contemporary design and sustainable ethos, Crace is a vibrant community that attracts a diverse range of residents, including families, professionals, and retirees. The suburb's charm lies in its well-planned layout, which emphasizes green spaces and recreational facilities, providing a serene and active lifestyle. With its own shopping precinct and easy access to public transport, Crace ensures that all essential amenities are within reach, enhancing the convenience of daily life.

Families will find Crace particularly appealing due to its family-friendly environment and strong sense of community. The suburb is designed with walkability in mind, featuring multiple parks, walking trails, and a large recreational basketball court, offering plenty of opportunities for outdoor activities and social interactions. Safety is generally not a concern here, contributing to the suburb's peaceful and welcoming atmosphere. While Crace may not have the bustling nightlife of a city center, it compensates with its tranquil suburban vibe and proximity to the Gungahlin Town Centre, where more extensive shopping and entertainment options are available.

One trade-off of living in Crace is the limited availability of new land for development, which can influence property prices. However, this also means that the community is well-established, with a stable population invested in their homes. For those seeking a balanced lifestyle that combines the tranquility of suburban living with the convenience of urban amenities, Crace offers an ideal setting. Its proximity to major road connections ensures easy access to employment hubs across Canberra, making it a practical choice for commuters. Overall, Crace is a charming suburb that provides a high quality of life, particularly for families and those who appreciate a well-rounded community environment.

Question 2

Is it expensive to live in Crace?

Accepted Answer

Living in Crace, a suburb of Canberra, can be considered moderately expensive. The median house price in Crace is currently $860,000, which is relatively high compared to some other areas. However, it's important to note that there are no unit prices available, which might limit options for those looking for more affordable housing types. For those interested in renting, the average rent for houses is about $700 per week, while units average around $520 per week.

When comparing the income data, the median total household income in Crace is $2,811 per week, which is notably higher than the average full-time wage in the ACT, which is approximately $2,000 per week before tax. This suggests that households in Crace generally earn more than the average in the ACT, which could make the higher property prices and rents more manageable for residents.

Overall, while the cost of living in Crace might be on the higher side, especially in terms of housing, the higher household incomes in the area may offset these expenses to some extent. If you are thinking of living in Crace, it's essential to consider your financial situation and how it aligns with the costs associated with residing in this suburb.

Question 3

Is Crace a good place to invest?

Accepted Answer

Crace presents a unique investment opportunity, especially for those looking at the rental market. While the median house and unit values have remained stable over the past year, the rental market for units has shown a promising 4% increase. This suggests a growing demand for rental properties, particularly units, which could be appealing for investors seeking consistent rental income.

The suburb's stability in property values indicates a low-risk environment, which can be attractive for investors who prefer steady returns over volatile market conditions. Crace's appeal lies in its well-planned community layout, green spaces, and proximity to essential amenities, making it a desirable location for renters. This demand for rental properties, especially units, could continue to drive rental yields upward, providing a reliable income stream for investors.

Overall, while Crace may not offer rapid capital growth at the moment, its stable property values and increasing rental demand make it a solid choice for investors prioritizing rental income. The suburb's family-friendly environment and community-focused amenities further enhance its attractiveness as a long-term investment option.

	Houses	Units
Median price Past 3 months	$800K	N/A
Change in value Past 12 months	-17.0%	-1.2%
Sold Past 3 months	12	3
Median days on market Past 12 months	48	59
Average rent Past 12 months	$695	$530
Change in rent Past 12 months	-2.8%	6.0%

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