Canberra

The Smartline Report – October Edition

The month in review: Canberra

By Herron Todd White
October 2015

The ACT property market has shown signs of strength over the 2015 calendar year, with certain sectors within the market performing stronger than others. With units still subdued and outer suburbs remaining steady, the $500,000 to $1 million market within inner, established suburbs appears to be the strongest with results through Canberra’s inner north and Woden and Weston regions leading the pack.

Ainslie has seen some huge results over the past three months, at a time when winter traditionally cools the Canberra market. Strong sales have seen some entry level properties selling in excess of $700,000. Smaller, boutique development sites through Downer and Dickson have also seen strong competition with a number of sites purchased for amalgamation or independent development.

The Woden and Weston market was Canberra’s most heavily impacted region as a result of the Mr Fluffy buy-back scheme. It appears that a large number of Mr Fluffy home owners have now been absorbed into the market, as the market continues at a strong, yet more sustainable rate. Strong sales have particularly been noted through Curtin, Weston and Waramanga. Despite the new supply through the Molonglo Valley, the upward trend of prices in Woden and Weston looks to continue into the foreseeable future.

While the greater ACT market remains relatively steady, some significant signs of strength have been evident in the year to date. The best results have been seen in areas with the traditional, maybe even stereotypical features of location and land size.

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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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