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Market Wrap

Market Wrap

31 July 2017

SALES MARKET

  • Prices across Canberra and the Greater Queanbeyan continue to grow despite the cold weather 
  • Median house price has risen 6.5 per cent annual growth rate to reach $667,500
  • Auction clearance rate reached 90.4% on Saturday 29th June 17
  • Supply has negatively impacted the median unit price by 2.3 per cent annually to $379,950 in June

 

Quick Stats:

355 Houses supplied– 1.6% increase year-on-year

366 Houses sold – 1.0% decrease year-on-year

299 Units supplied – 3.1% increase year-on-year

217 Units sold – 29.9% increase year-on-year

(Year-on-year monthly sales compared to monthly sales of previous year)

 

MEDIAN PROPERTY PRICE

Property Type

Median

Houses

$667,500 – 6.5% increase YoY

Townhouses

$465,000 – 4.6% increase YoY

Apartments/Units

$379,950 – 2.3% decrease YoY

*Median price has been calculated from sales over the previous quarter. Trends are based on the moving median price change.

 

DISTRICT PRICE

District

House Price

YoY

Unit & Townhouse

YoY

Belconnen

$605,000

8.0% increase

$395,000

4.5% increase

Greater Queanbeyan

$594,000

3.9% increase

$350,000

5.5% increase

Gungahlin

$670,000

7.4% increase

$391,500

3.6% increase

Inner North

$956,000

8.7% increase

$455,900

1.9% decrease

Inner South

$1,320,000

15.4% increase

$510,000

0.8% increase

Tuggeranong

$579,000

7.4% increase

$408,000

0.3% increase

Weston Creek

$716,000

9.6% increase

$506,500

15.5% increase

Woden Valley

$835,000

9.1% increase

$402,500

3.5% decrease

*Median price has been calculated from the sales over the previous quarter. Trends are based on the moving median price change. Auction clearance rates are sourced from Australian Property Monitors 1800 817 616 APM Pty Limited.

 

 

AUCTION CLEARANCE RATES

Region

Percentage Rate

Belconnen

79%

Inner South

70%

Woden Valley

70%

Gungahlin

59%

Inner North

59%

Tuggeranong

55%

Weston Creek

52%

Greater Queanbeyan

50%

 

RENTAL MARKET

  • Rental prices continue to track upwards despite demand easing and supply improving
  • The median weekly asking rent for two- and three-bedroom houses increased annually by $20 to $470 a week. 
  • Tenants seeking houses with four-plus bedrooms found the asking rent increased annually by $20 to $600 a week.

 

Quick Stats:

455 Houses listed – 5.2% increase year-on-year

378 Houses leased – 3.5% decrease year-on-year

901 Units listed – 13.1% increase year-on-year

740 Units leased – 5.3% decrease year-on-year

(Year-on-year monthly sales compared to monthly sales of previous year)

 

 WEEKLY RENT BY DISTRICT

District

Days to lease

Houses

Units & Townhouses

Belconnen

27

$480

$390

Greater Queanbeyan

28

$527.5

$300

Gungahlin

22

$550

$400

Inner North

26

$580

$450

Inner South

33

$650

$490

Tuggeranong

24

$490

$415

Weston Creek

24

$500

$380

Woden Valley

32

$550

$380

 

WEEKLY RENT BY PROPERTY TYPE

Property Type

Price

YoY

 

4+ bedroom house

$600

5.5% increase

2-3 bedroom house

$470

5.4% increase

2-3 bedroom unit

$442.5

7.9% increase

1 bedroom unit

$365

5.4% increase

 

DATE SOURCE:  Allhomes.com.au