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Market Wrap

Market Wrap

28 February 2018

SALES MARKET DATA

 

The good news is the Christmas break has not interrupted the Canberra Sales Market with the January auction clearance rate at 79%. 

Usually agents and sellers are cautious about putting a property to auction during the January period as buyers can sometimes still be in holiday mode.  But not this year! 

We had numerous buyers that missed out on properties prior to Christmas who were keen to secure a new home in the start of the New Year.  Due to this demand we managed to secure a number of “off market” sales for clients wanting to avoid the marketing campaign.

 

AUCTION PERFORMANCE

79% clearance rate throughout the month

(28.95% increase YoY)


 

AUCTION NUMBER

Houses – 34

Units/Apartments - 5


SUPPLY OVERVIEW

New Supply                                                              Total Supply

Jan 2018         Houses – 153             Units – 160      Houses – 906             Units - 1064

Jan 2017         Houses – 168             Units - 137       Houses – 901             Units – 1026

 

NEW SUPPLY BY DISTRICT

District

Houses

Annual increase/decrease

Units

Annual increase/decrease

Belconnen

46

2.3% increase

24

4.3% increase

Gungahlin

43

1.2% decrease

27

23.6% increase

Inner North

3

4.0% increase

44

47.5% increase

Inner South

11

62% increase

21

19.4% decrease

Molonglo

6

50% increase

5

3.1% decrease

Queanbeyan

31

3.6% increase

18

14.9% increase

Tuggeranong

30

7.6% decrease

20

80.5% increase

Western Creek

3

4.4% decrease

3

20% decrease

Woden Valley

10

8.9% increase

15

33.3% increase

YoY = Year Over Year

RENTAL MARKET DATA


 

The rental market is still performing well, especially in the Inner North and Inner South. 

As stated in previous newsletters, the concern will be with the amount of new developments nearing completion in the next 12- 24 months and what this will do the supply of properties onto the rental market. 

Most new complexes contain anywhere from 100-400 apartments with the majority usually selling to investors.  I suspect the Inner North and South will be able to absorb this extra supply but the outer suburbs will be the concern.

HOUSES

District

New Supply

YoY

Total Supply

YoY

Belconnen

113

11.8% increase

231

3.7% decrease

Gungahlin

122

7.3% increase

221

6.8% increase

Inner North

60

11.7% decrease

118

15.8% decrease

Inner South

21

24.8% decrease

67

29.9% decrease

Molonglo

4

12.5% decrease

11

8.5% decrease

Queanbeyan

57

8.4% decrease

135

21.7% decrease

Tuggeranong

60

7.7% decrease

100

17.1% decrease

Western Creek

20

0.0%

42

13.1% decrease

Woden Valley

50

18.5% increase

98

2.8% increase

YoY = Year Over Year

UNITS

District

New Supply

YoY

Total Supply

YoY

Belconnen

106

7.4% decrease

198

12% decrease

Gungahlin

72

12.4% increase

134

18.3% increase

Inner North

179

10.2% decrease

365

16.4% decrease

Inner South

120

19.2% decrease

258

35.8% decrease

Molonglo

17

147% increase

28

27.3% increase

Queanbeyan

47

22.6% decrease

122

14.5% decrease

Tuggeranong

30

31% increase

58

27% increase

Western Creek

6

13.3% decrease

9

3% increase

Woden Valley

67

0.7% decrease

107

8.2% decrease

YoY = Year Over Year

As always, if you wish to discuss the market at any stage please give us a call.


DATE SOURCE:  allhomes.com.au