Canberra is one of the few consistent real estate markets in Australia, maintaining a soft but persistent growth trend over the years.
The CoreLogic Home Value Index for September 2019 indicated that during the period from August to September, Canberra was among the capitals that experienced a positive increase in housing values, with an average growth of 1%, in parallel with the rise in prices in Brisbane, Sydney and Melbourne.
Auction activity has also increased in Canberra, another indicator that buyers are on the move. CoreLogic's quarterly auction review noted that the city's average liquidation rate had climbed to 62.3%, an improvement from the last quarter and an increase from 12 months ago.
"The number of registrations in capitals is 10% lower than a year ago, and new registrations added to the market are 15% lower than those a year ago. As buyer activity increases, the lack of available stock could see a renewed sense of FOMO [fear of missing out] supporting continued price growth, "suggests Tim Lawless, research manager at CoreLogic .
The considerable profit potential of resale can also contribute to increasing demand from buyers. In CoreLogic's most recent Pain and Gain report, Lawless notes that, in ACT, 97.3% of home resales generated income for their owners.
"Despite a nationwide downward trend, the vast majority of homeowners continue to resell their properties at a profit, which highlights the positive long-term trend in market conditions. During the three-month period ending in June 2019, homeowners were more likely than investors to make a profit by selling their property, "he said.
"This trend was evident in all the capitals combined, but particularly in Melbourne, Brisbane and Canberra, where investors were twice as likely to sell at a loss compared to owner-occupiers."
For tenants, Canberra is the second most expensive capital to live in, with an average rent of $ 538 per week. However, this certainly did not prevent tenants from filling vacancies.
"ACT seems to tick a lot of boxes, with low vacancy rates and low unemployment," said Matthew Lewison, director of OpenCorp.
"This bodes well for price growth, but being a smaller market that averages only a few hundred building finishes each month, a slight increase in the supply of new homes could quickly change the picture. Economy of the city from a housing perspective. "
SUBURB PROJECTOR
GARRAN: The houses are collapsing
After a period of constant positive growth, the property market in the suburbs of Garran ran into a wall in the 12 months to September 2019, with values ??falling by 2.2%, although the Median value of this type of property remains over $ 1 million.
The units held up better during this period, with prices up 2.6%, pushing their median value above $ 600,000. The average rental rate increased 5.6% to $ 570 per week of the year in July 2019, and the average rental yield is reasonably high at 4.8%.
There are several primary schools in Garran, which is located in the Woden district of Canberra, and the suburbs are also home to the Canberra Hospital.
Amenities: The Canberra Hospital and many primary schools are located in Garran
Units: Units have grown steadily over the past five years
Main suburbs:
Thebarton
,
mt colah
,
mt lawley
,
Lockridge
,
emerald
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