Canberra has emerged as one of the top performing housing markets at the end of 2020, according to the latest report from CoreLogic.
Between December and December, house prices in Canberra rose 7.5%, the second-highest annual gain after Darwin's 9%.
Sandra Howells, real estate appraiser at Herron Todd White, said Canberra was relatively isolated from the effects of the COVID-19 outbreak on the real estate industry.
"The baited buyer demand started to gain traction again at auctions and open houses. However, housing stock levels at established properties remained below pre-market levels. pandemic, ”she said.
Howells said that stable employment conditions in Canberra as well as increased competition among buyers for the limited properties available have protected prices from falling.
"In short, this return in demand and limited inventory has kept Canberra home prices unaffected by the economic impacts of the pandemic," she said. The residential real estate market for homes has remained stable and robust, with prices in the Canberra suburbs showing no decline in value and single-offering properties in sought-after suburbs reaching record prices. . "
As far as the local unit market is concerned, conditions have remained unchanged. However, Howell said market conditions for the housing market are not as good overall as the housing market, given the volatility.
“The housing market, especially apartments, has functioned as expected, remaining quite stagnant, with growth often offset by the continued flow of new apartments entering the market,” she said.
Top suburbs:
rooted hill
,
coburg north
,
Willoughby is
,
queens park
,
trott park
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