Canberra

The Smartline Report – July Edition

The month in review: Canberra

By Herron Todd White
July 2015

The Canberra property market has seen signs of strength over the first half of the 2015 calendar year with established property leading the way. Subsequently the entry level mark into the ACT housing market remains relatively high.

Unit prices remain subdued across the ACT and provide ample scope for entry level buyers looking in the sub $500,000 market. However with strong levels of supply yet to hit the market, capital growth is expected to remain soft and strong competition for rents is expected to continue.

The Belconnen market remains an attractive locale under $500,000 with suburbs such as Evatt, Page and Macquarie all providing key features that appeal to entry level investors including central locations, large blocks, good neighbourhood facilities and limited new local supply.

Waramanga and Fisher provide strong options within the Weston market for southside buyers priced out of the Woden region. These suburbs again provide strong underlying characteristics to drive future capital growth. Alternatively the lower pocket of Narrabundah in Canberra’s inner south provides a number of ex-government dwellings in a very central location. This pocket should be viewed as a long term investment however until the surrounding development is improved to a higher quality.

$500,000 still doesn’t go too far in the ACT housing market unless you are willing to roll up your sleeves and improve a dated property. Alternatively Queanbeyan is only 15 minutes down the road and provides a much greater range of property.

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Please note that information in this publication is subject to change without notice. Smartline assumes no responsibility for any errors, omissions or mistakes in this document. © Smartline Home Loans P/L 1999 – 2015. Australian Credit Licence Number 385325

 

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