September Market Outlook
CoreLogic National housing Update September 2017
housing supply under $400,000 dries up
What’s the outlook for the cash rate?
First home buyers waiting for legislation to pass
Adelaide September 2017
Brisbane September 2017
Cairns September 2017
Canberra September 2017
Darwin September 2017
Gold Coast September 2017
Melbourne September 2017
Newcastle September 2017
Perth September 2017
Regional NSW September 2017
Regional NT September 2017
Regional QLD September 2017
Regional SA September 2017
Regional VIC September 2017
South West WA September 2017
Sydney September 2017
Tasmania September 2017
Wollongong September 2017
CoreLogic NSW housing Update September 2017
CoreLogic QLD housing Update September 2017
CoreLogic SA housing Update September 2017
CoreLogic VIC housing Update September 2017
CoreLogic WA housing Update September 2017
Starting off modestly vs. buying a more expensive property
5 ways to save your mortgage deposit faster
Understanding low doc loans for the self-employed
Canberra September 2017
The month in review: Canberra
By Herron Todd White
Lately there has been a lot of activity in the Canberra market with several different demographics keen to make the most of the current market conditions. First home buyers, downsizers and families looking to upgrade have all been active in the property market as well as those who are new to Canberra.
First home buyers have affordable detached housing options in the outer suburbs of Belconnen and Tuggeranong, while Gungahlin provides newer detached housing at more of a premium. Alternatively, there are affordable unit options available throughout the Canberra region with new developments being completed in the city and town centres. There is also a large supply of older units close to the city and in the suburbs that would be suitably priced for first home buyers. The strong detached housing market has forced most first home buyers to look to apartments to climb onto the property ladder.
Recently, there has been strong demand from downsizers looking to move out of the family home into something smaller. The demand has been so strong that some developers are targeting this market specifically for their new projects. This move has been prompted by several things, and downsizers are taking advantage of the strong housing market, selling homes often in established suburbs for record high prices, and a proposal announced in this year’s budget, allows downsizers to allocate some of the profit made selling the family home into their Superannuation.
New Canberra residents have been active mainly in the Gungahlin market where they can buy new homes in a newly established suburb. Demand has been very strong from these buyers with land selling at a similar rate per square meter to land in established inner suburbs. This demographic has also been active in the new apartment market especially dwellings in close proximity to universities and town centres.
DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.