According to experts, Canberra is one of the few markets that could do better than others in the midst of the COVID-19 epidemic.
Richard Sheppard, senior real estate investment advisor at inSynergy, said that Canberra, along with Brisbane and Adelaide, is well positioned to withstand the risks of the housing market epidemic.
"The fundamentals are very solid in the medium and long term in certain submarines of Brisbane, Canberra and Adelaide. We also think that the risk of COVID-19 of pushing these markets back is quite low", said. -he declares.
Sheppard said that Canberra also has robust returns, ranging from 4.5% to 6%, which makes it attractive to real estate investors.
Read also: What are the main growth areas of Canberra?
A separate report from Herron Todd White stated that the residential real estate market in Canberra was historically stable, showing steady growth.
"We don't tend to see spikes and falls like some other markets, but general stability," said Angus Howell, local expert at Herron Todd White.
Howell said Canberra had solid market fundamentals, including low unemployment, above average annual earnings and a solid job base in government and the public sector.
"We are still seeing transactions at all levels and, as a general rule, agents indicate that most buyers are willing to finance and able to compete with confidence in the market. Sellers may be adjusting their expectations, but this has so far had minimal impact. ", he said.
However, Howell said that it remains difficult to predict the full impact of COVID-19 on the local economy and the real estate market.
"The outlook for the rest of the year is difficult to predict. The landscape is changing very quickly; however, the mentioned stable market conditions keep the Canberra residential property market in good shape", he says.
Main suburbs:
Coburg North
,
fig wood
,
Harris Park
,
alderley
,
new city
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