Turner, ACT 2612Home loan and property guide

Turner location and character

Turner lies approximately two kilometres north-west of the Canberra city centre, with Braddon to the east across Northbourne Avenue and the Australian National University immediately south.

In 1927 the provisional suburbs of the Australian Capital Territory were renamed to honour the leaders of Federation, and the new names were gazetted in 1928. Turner is named after Sir George Turner, a Federalist, legislator and one of the founders of the Australian Constitution.

The suburb retains a stock of older houses on its interior streets alongside substantial apartment development toward Northbourne Avenue, which gives it a mixed character between the density of Braddon and the established housing of O'Connor.

Transport and amenity in Turner

Turner is on light rail Stage 1, which commenced services on 20 April 2019 and runs 12 kilometres from Gungahlin to the city with 14 stops, passing through Gungahlin, Franklin, Harrison, Mitchell, Lyneham, Watson, Dickson, Downer, Turner and Braddon.

Trams depart every six minutes in both directions during the weekday morning peak between 7.30 and 9.00, and every 10 to 15 minutes off peak. Stage 2A, extending from Civic to Commonwealth Park, is under construction and is expected to be operational in early 2028.

The Australian National University is immediately south and the city centre is a short walk or tram ride away, so most amenities are within easy reach. This guide does not describe school catchments, which the ACT Education Directorate can confirm.

Housing stock in Turner

Turner combines older detached houses on its interior streets with apartment development concentrated toward Northbourne Avenue, and the apartments now dominate.

At the 2021 Census, 1,565 of the 2,138 occupied private dwellings were flats or apartments, 295 were semi-detached or townhouse dwellings and 268 were separate houses, so apartments made up 73.2 per cent of occupied homes against 14.2 per cent nationally, while separate houses accounted for 12.5 per cent against 72.3 per cent. Two-bedroom dwellings numbered 819, one-bedroom 658 and three-bedroom 456.

The Census also recorded 275 unoccupied private dwellings out of 2,410 on Census night, about 11 per cent. Due diligence divides between strata work for the apartments and, for the remaining houses, roof and ceiling condition, original services, insulation performance and asbestos-containing materials.

Who lives and buys in Turner

The 2021 Census counted 4,470 residents in Turner, with a median age of 31 against 38 for Australia and an average household size of 2.0 people compared with 2.5 nationally. Adults aged 25 to 34 were by far the largest group at 1,416, followed by 731 aged 20 to 24 and 649 aged 35 to 44, a profile shaped by the university next door.

Renting leads clearly. The Census recorded 1,161 rented dwellings, 559 owned with a mortgage and 368 owned outright, so 54.7 per cent of households with a stated tenure rented, 26.3 per cent held a mortgage and 17.3 per cent owned outright, against 30.6, 35.0 and 31.0 per cent nationally.

Median weekly household income was $2,330 against $1,746, median monthly mortgage repayments were $1,901 against $1,863 and median weekly rent was $480 against $375. For a buyer, this is an investor and first home buyer market, with the remaining houses forming a much smaller and more expensive segment.

Leasehold title and planning in Turner

Land in the ACT is not freehold. It is granted under a Crown lease, and most residential Crown leases run for 99 years, with a buyer taking on the remaining term. In an apartment building the lease position sits alongside the units plan, and both form part of the contract documents.

Every Crown lease contains a purpose clause specifying the permitted use of the land. Varying it requires permission from the Territory Planning Authority and attracts the Lease Variation Charge on the resulting uplift in value, which is the mechanism by which the Northbourne Avenue corridor has been redeveloped.

Buyers of one of the remaining houses should read the purpose clause carefully, because in a corridor under redevelopment a block's value may rest partly on what the lease permits rather than on the dwelling standing on it.

Buying in Turner under ACT contract law

Under the Civil Law (Sale of Residential Property) Act 2003, a seller must attach a required set of documents to the contract before the property is advertised. Those include building and compliance inspection reports, building conveyancing inquiry documents, an energy efficiency rating statement, copies of all interests and encumbrances, an extract of the title, and the Crown lease with either the deposited plan or, for a unit, the units plan.

For an apartment, the owners corporation records, levies, insurance and minutes deserve close review alongside those documents. A buyer is entitled to a cooling-off period of five business days, ending at 5pm on the fifth working day after it begins, and forfeits 0.25 per cent of the purchase price to withdraw during that period.

Home loan considerations for Turner property

Minimum internal floor areas bind often here. With 658 one-bedroom dwellings among 2,138 occupied homes, a substantial share of stock sits near or below the thresholds some lenders apply, and small units commonly attract lower maximum loan-to-value ratios. Body corporate levies are counted in serviceability assessments and reduce borrowing power.

Proximity to the Australian National University raises a further issue. Purpose-built student accommodation is treated by many lenders as specialised security, often with a much lower maximum loan-to-value ratio and sometimes with outright refusal, so a buyer should establish what a building actually is rather than relying on how it is marketed.

With renting at 54.7 per cent, most purchases here are investment lending, assessed on different terms, with most lenders discounting rental income. For the remaining houses, loose-fill asbestos insulation was installed in Canberra roof spaces between 1968 and 1978, and buyers should check the Affected Residential Premises Register for a specific address.

Lending considerations for Turner

• One-bedroom dwellings can fall below lenders' minimum internal floor areas.
• Purpose-built student accommodation is specialised security many lenders refuse.
• Body corporate levies are counted in serviceability assessments and reduce borrowing power.
• A remaining house may be valued partly on what its Crown lease purpose clause permits.
• Renting at 54.7 per cent means most purchases are assessed as investment lending.

Lender policy differs between institutions and changes over time. The guide to Australian lenders explains how credit policy varies, and the home loan guide sets out the main loan structures.