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Market Wrap

Market Wrap

29 September 2017

 

SALES MARKET DATA

  • Buyers continue to be out in force as we head into spring
  • More vendors are choosing list their home by auction, there was a 22% increase compared to last year
  • Stamp duty has now been axed for properties within NSW for new and established homes

 

Quick States:

483 Houses supplied – 5.1% increase year-on-year

376 Houses sold – 2.3% decrease year-on-year

336 Units supplied – 15.4% increase year-on-year

261 Units sold – 25.5% increase year-on-year

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

 

MEDIAN PROPERTY PRICE

Property Type

Median

Houses

$651,000 – 8.5% increase YoY

Townhouses

$455,000 – 3.9% increase YoY

Apartments/Units

$375,000 – 1.0% 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

$590,250

7.5% increase

$389,000

3.0% increase

Greater Queanbeyan

$635,000

6.5% increase

$315,000

5.6% increase

Gungahlin

$695,000

8.1% increase

$409,000

1.7% increase

Inner North

$900,000

6.4% increase

$508,000

4.7% increase

Inner South

$1,350,000

20.6% increase

$477,250

0.9% decrease

Tuggeranong

$572,250

8.4% increase

$410,000

2.7% increase

Weston Creek

$680,000

7.3% increase

$380,000

1.0% increase

Woden Valley

$865,000

10.5% increase

$400,000

3.7% increase

*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

Inner North

79%

Belconnen

77%

Gungahlin

71%

Tuggeranong

64%

Woden Valley

64%

Inner South

62%

Greater Queanbeyan

58%

Weston Creek

31%

 

RENTAL MARKET DATA

  • Rental prices for two - to three bedroom houses have risen annually by 3.7%
  • Price hikes contiue to make it harder for tenants with wage growth staying the same and the cost of living rising 
  • Canberra vacancy rates for houses remained steady at just 0.8 per cent over August, which was also the same result as recorded over August last year

  • The Canberra vacancy rate for units, however, has tightened over August, falling from 1.8 per cent to just 1.5 per cent

 

 

Quick States:

366 Houses listed – 2.1% increase year-on-year

381 Houses leased – 0.6% decrease year-on-year

826 Units listed – 14.7% increase year-on-year

824 Units leased – 2.8% increase year-on-year

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

 

 WEEKLY RENT BY DISTRICT

District

Days to lease

Houses

YoY

Units & Townhouses

YoY

Belconnen

31

$450

5.6% increase

$390

4.4% increase

Greater Queanbeyan

36

$480

10.4% increase

$290

0.6% increase

Gungahlin

22

$540

8.2% increase

$400

5.5% increase

Inner North

32

$523

6.0% increase

$440

6.0% increase

Inner South

34

$625

6.4% increase

$460

4.9% increase

Tuggeranong

20

$460

4.5% increase

$413

4.2% increase

Weston Creek

49

$500

3.9% increase

$403

6.8% decrease

Woden Valley

32

$500

4.5% increase

$390

5.0% increase

 

WEEKLY RENT BY PROEPRTY TYPE

Property Type

Price

YoY

 

4+ bedroom house

$590

5.2% increase

2-3 bedroom house

$450

3.7% increase

2-3 bedroom unit

$440

6.4% increase

1 bedroom unit

$370

5.4% increase

 

DATE SOURCE:  Allhomes.com.au