The Canberra residential property market benefits from a set of the most solid fundamentals of any capital city market across Australia. Low unemployment, high average wages, strong population growth and good housing affordability. To top it off, Canberra is also one best cities in the world to live in terms of health, education and lifestyle.
The following articles give a brief overview of recent rent and price performance for the Canberra market:
Shrinking supply forces rental prices higher: Nicola Powell
“Rental prices have been pushed higher by the shrinking supply of new rental listings. Over the winter quarter almost 500 fewer listings were advertised compared to the same period the year prior.
A total of 3442 properties were listed on allhomes.com.au, a drop of 12.7 per cent compared to the winter quarter last year.”
ABS data reveals strong price growth for Canberra property
“The Australian Bureau of Statistics released its Residential Property Price Indexes: Eight Capital Cities data on Tuesday and it also showed the nation’s capital had recorded a 2.2 per cent increase over the three months to June.
The figure placed Canberra above the national average of 2 per cent and behind Sydney and Melbourne’s quarterly growth of 2.8 and 2.7 per cent.”
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Jonathan Irwin – Director
Capital Defence Homes