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Canberra Draft City Plan Good for Owners of ACT Property

By Ben Faulks

The recently released Draft Plan for Canberra by the Australian Capital Territory (ACT) government has provided a basis for civic development, which could be great news for those interested in buying investment Belconnen real estate in the near future.

One of the most exciting factors to be highlighted by the draft plan is the development of the 'City to the Lake' – which aims to highlight the potential of Commonwealth Park and City Hill as "celebrated urban parks", according to the City to the Lake website.

As well as developing the space, there will be new apartment developments built in the area, aiming to cater for upwards of 15,000 new residents.This could offer a great opportunity for anyone interested in purchasing new investment property in the state capital.

ACT Chief Minister Katy Gallagher said the draft plan aims to change the way people engage with the city, in order to provide them with a real sense of identity and belonging.

"This draft plan looks at how growth and change can happen across the city and identifies ways to achieve this change while keeping with its natural settings in line with Griffin's plan 100 years ago," said Ms Gallagher in a October 21 statement.

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