Extract from the February 2020 market report

Canberra may not make the headlines or influence national real estate market movements like Sydney and Melbourne, but it remains one of the most successful among the capitals.

"The Canberra real estate market is a quiet player, with housing values ??growing slowly but steadily," says National Director of Metropole Property Strategists, Kate Forbes.

"Houses outperform the surplus apartment market, but population growth is expected to remain strong, which will support underlying demand for housing."

The CoreLogic Home Equity Index for October 2019 indicates that during the three months ending in October, Canberra experienced its largest quarterly increase since May 2017, as a result of the recovery of the national real estate market.

"Focusing on housing market conditions in large value-based cohorts underscores that market recovery is led by the most expensive quarter of the market," says Tim Lawless, research manager at CoreLogic.

The results of the Australian residential development review by Knight Frank suggest that Canberra is one of the markets contributing to this charge – after Sydney and Melbourne, Canberra units at high density sites reported the Highest indicative value of $ 92,500 per apartment.

Always solid

What made Canberra an always strong market over the years, even during the economic downturn that affected Sydney and Melbourne, is its long-term focus, supported by an economy and a market. solid work.

Although it is traditionally known for employment opportunities in the public sector, Canberra has also been geared towards employment in the private sector, so that employment employment does not depend entirely on political movements.

"Canberra is a national pioneer in employment, recording the strongest annual employment growth nationwide of 3.4%. It also has the lowest unemployment rate in the country, 3.3%, "said Sam Dodimead, director of project marketing at Peter Blackshaw Real Estate.

Due to the availability of jobs, Canberra has experienced regular population growth from year to year. Thanks to smart urban planning, the capital has not only welcomed an increasing number of inhabitants, but it has also flourished in the many decades that have passed since it was first chosen as capital of the country, as suggested by the results of a study by RMIT, Monash and the University of Melbourne. The report notes that Canberra's tight-knit community and long-term government support are a model for other cities to follow.

SUBURB TO WATCH
MAWSON:
House prices are close to their peak

In the Woden Valley suburb of Mawson, homes are in demand, while the unit market has performed unevenly in the three years ending October 2019.

In the last quarter, the median home value was just under $ 775,000 – one of the highest median prices in the suburbs in the past decade – after an increase of 37 .7% in the past five years. The average weekly rental rate of $ 550 has also been maintained over the past 12 months.

In contrast, the unit market has rocked in the past three years, recording positive growth one year and negative the following. Prices fell 2% between October and October 2019, with the median price sliding to just over $ 380,000.

Units: Unit prices increased and decreased during the three years preceding October 2019

Houses : The values ??of houses in Mawson are among the highest they have ever been

Top suburbs:

mt colah

,

stafford hts

,

sunshine

,

Wallend

,

Padbury

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