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Market Wrap - July 2016

Market Wrap - July 2016

31 August 2016

SALES

As Winter comes to an end we start to look forward to the busy Spring season. 

Over the next few months you will notice a large increase in the supply of properties coming onto the sales market in the ACT. 

The supply of rental properties will remain consistent for the next few months but we will see a large increase as we move towards Christmas.

 

 

 

 

 

 

 

 

 

 

QUICKEST SELLING SUBURBS

Houses

  1. Mawson, 9.3 days
  2. Lawson, 11.9 days
  3. Red Hill, 15.5 days
  4. Downer, 16 days
  5. Belconnen, 16.1 days
  6. Campbell, 17 days
  7. Weetangera, 17.9 days
  8. Charnwood, 18 days
  9. Scullin, 18.9 days
  10. Gungahlin, 20.3 days

 

Townhouses/Apartments

  1. Gungahlin, 19.2 days
  2. Harrison, 22 days
  3. Giralang, 24.5 days
  4. Rivett, 26.3 days
  5. Curtin, 32.5 days
  6. Wright, 34 days
  7. Garran, 35 days
  8. Kambah, 37.3 days
  9. O’Connor 38 days
  10. Forde, 38.4 dayS

 

MEDIAN HOUSE PRICE FOR JUNE 2016

Property Type

Median

All

$538,500

Houses

$600,000

Townhouses

$432,500

Apartments/Units

$375,000

 

DAYS ON MARKET

District

All Houses

All Townhouse/Apartments

Belconnen

39.7

86.5

Greater Queanbeyan

91.3

104

Gungahlin

58

74.1

Molonglo Valley

127.5

228.2

North Canberra

37.2

125.5

South Canberra

52.5

100.2

Tuggeranong

66.4

77.1

Weston Creek

44.9

66.3

Woden Valley

42.5

94.6

 

TOP 5 AFFORDABLE SUBURBS 

Houses

Townhouses/Apartments

  1. Banks, 6.3
  1. Scullin, 3.0
  1. Queanbeyan West, 6.6
  1. Hawker, 3.3
  1. Calwell, 6.7
  1. Crestwood, 3.8
  1. Gordon, 6.8
  1. Chifley, 3.8
  1. Ngunnawal, 6.8
  1. Fraser, 4.3

 

* Property affordability is calculated by comparing average salary to median price, inclusive of all residential sales including ACT Governments land rent scheme.

 

RENTALS

 

 REGIONS - AVERAGE DAYS ON MARKET

District

Houses

Townhouses & Apartments

Belconnen

29.1

23.9

Greater Queanbeyan

35.4

33.2

Gungahlin

22.3

19.1

North Canberra

34.9

25.2

South Canberra

39.1

31.8

Tuggeranong

25.4

20.9

Weston Creek

27.4

68

Woden Valley

32.4

22.7

 

1187 residential properties rented

  • Annual decrease of -14.9%
  • Quarterly decrease of – 11.2%
  • Monthly increase of +16.3%

ACT and Queanbeyan median rent was $420

  • Annual increase of +5%
  • No month-on-month change

1115 newly listed residential properties

  • Annual decrease of -19.5%
  • Quarterly increase of +1.5%
  • Monthly decrease of -6.9%

On average a property spent 27.2 days on the market (time listed to rented)

  • Annual decrease of -26.5%
  • Monthly decrease of -5.6%

 

If you wish to discuss the current market or anything else regarding your investment property, please feel free to give our team a call.

 

DATE SOURCE:  Allhomes.com.au