Market Report – ACT (June 2008)


Canberra has enjoyed a sustained period of capital growth over the past two years and it seems set to continue – albeit at a slow, steady pace.

The Canberra market continues to quietly power ahead, boosted by steady demand underpinned by above-average population growth, a stable and highly paid labour force and increased interstate investment according to Andrew Donnelly, CEO of Braxton Chase.

The political drivers of Canberra's property are unique for an Australian market. A highly transient population that readily provides tenants has kept rents high and vacancy rates low, particularly for attached housing. The median price of units grew to $361,000, a 15.13% increase for the year, reports Residex.
"Demand in the past year for units within a 5km radius of Canberra's city centre has created a big buzz, pumping up both prices and rental yields," says Donnelly.

The renter demographic has also created an anomaly that can translate into healthy yields on a purchaser’s capital investment.

"Just consider Canberra is the only capital city where the median price of renting a two-bedroom apartment is more than the median price of renting a three bedroom house,” notes Donnelly.

There are also some infrastructure works at play likely to improve growth in the city. The Ghugahlin Drive Extension upgrade is set to improve accessibility to Canberra’s northern suburbs as well as the congestion-reducing road duplications in Tugeranong.

However, the upside of the infrastructure boost and ongoing rental returns is tempered somewhat by a land supply increase due in the northern suburbs throughout 2008.

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker

Top Suburbs : newtown , albion , keperra , west rockhampton , toowong

go back

Get help with your investment property

Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here