Market Update - September 2015
30 September 2015 Symon Badenoch
Spring is not near, it’s here!
Sales market update
With Spring now here we have seen an increase in property come on the market with demand for free-standing houses in the more established suburbs continuing to be popular.
Auction clearance rates continue to stay strong in Canberra with 77% of stock sold last Saturday.
We are still seeing an increase of interstate investors in the Canberra market as prices in Sydney and Melbourne continue to surge.
Supply is still low with demand quite high and we anticipate this will be the marketplace trend until well in to the new year.
Rental market update
The rental market remains steady and we are hoping for it to improve as we get to peak moving season in January and February.
The new ACT Budget created more job certainty in Canberra and this along with our low unemployment should entice interstaters to start moving here again.
The rental prices will remain flat in the coming 12 months with no increases expected due to the continued supply of investment properties coming online.
Now is a good time to consider updating your cooling options in your property especially as we head in to the warmer months. If your property is vacant now is an opportune time to update your heating and cooling as most prospective tenants opt for properties which can provide year round comfort.
Please feel free to contact our Team to discuss improving your chances of lower vacancy rates on your investment property.