Canberra remained the strongest capital in Australia in terms of home value growth this year, according to a report by McGrath Estate Agents.
Housing values ??in Canberra have increased by 5% so far this year, overcoming the negative effects of the COVID-19 outbreak on the overall real estate market.
"Canberra's resilience is largely due to its robust economy, its unique job security being a government city, and an incredibly low infection rate of just 0.42% of the world's cases. country by October 2020, "said John McGrath, Founder and Executive. from McGrath Realtors.
McGrath said demand from Canberra buyers is increasing, particularly first-time home buyers and renovators. These buyers, according to McGrath, are preying on homes rather than apartments in the city.
"First, with interest rates so low, more people can afford a house. Second, changes to the stamp duty exemptions for first-time homebuyers have steered more of them to homes, thus increasing demand, ”he said.
]
Canberra expanded stamp duty exemptions last year to include established and new homes. Price caps have also been removed for these discounts.
These changes allowed first-time homebuyers to continue to take advantage of stamp duty savings and move to suburbs closer to town.
"The gradual reduction in stamp duties for all other buyers has also encouraged people to upgrade more freely as their lifestyle needs change, thus increasing demand specifically for homes." , McGrath said.
Top suburbs:
Willoughby is
,
sunshine
,
Harris park
,
stafford hts
,
Alexandra Hills
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in real estate, it is important to ensure that you not only have the lowest available rate possible, but also have the right loan features for your needs. needs.
You only need to fill in a few details below and we will then arrange for a local mortgage broker to contact you and determine the characteristics or types of loans that suit your needs. We'll even help you with the paperwork. In addition, an appointment is free.
We value your privacy and take all your information seriously – you can check
our privacy policy here
