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Market Wrap - May 2016

Market Wrap - May 2016

30 June 2016

SALES

This market update contains some quick statistics showing the performance of the residential market in the ACT during May (source- allhomes.com.au) .

QUICKEST SELLING SUBURBS

Houses

  1. Oxley, 6.9 days
  2. Hawker, 14.2 days
  3. Kaleen, 16.8 days
  4. Higgins, 21.3 days
  5. Forrest, 23 days

Townhouses/Apartments

  1. Holder, 7.2 days
  2. Greenway, 12.7 days
  3. Downer, 19.2 days
  4. Campbell, 20.9 days
  5. Yarralumla, 21.9 days

MEDIAN HOUSE PRICE FOR THE ENTIRE ACT REGION

$600,000 which is an increase of 5.35% from the same time last year.

SALES- TOP 5 AFFORDABLE SUBURBS*

 

Houses

Townhouses/Apartments

  1. Queanbeyan West

1.    Hawker

  1. Banks

2.    Duffy

  1. Calwell

       3.    Melba

  1. Ngunnawal

       4.    Queanbeyan East

  1. Belconnen

5.    Farrer

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

 

REGIONS – AVERAGE DAYS ON MARKET UNTIL SOLD

 

District

All Houses

All Townhouse/Apartments

Belconnen

37.5

89.6

Greater Queanbeyan

78.3

155.5

Gungahlin

64.4

92.9

Molonglo Valley

112.7

273.5

North Canberra

53.2

83.8

South Canberra

36.1

90.1

Tuggeranong

60.2

81.4

Weston Creek

35.4

39.2

Woden Valley

49.2

119

 

RENTALS

 REGIONS - AVERAGE DAYS ON MARKET

District

Houses

Townhouses/Apartments

Belconnen

27.3

25.8

Greater Queanbeyan

31.7

42.3

Gungahlin

24.1

25.4

North Canberra

24.6

25.7

South Canberra

29.4

24.3

Tuggeranong

26.3

23.6

Weston Creek

37.2

27.4

Woden Valley

41.9

24.2

 

 

  • 1108 properties have been rented throughout May, which results in an annual decrease of 3.9% and a quarterly decrease of 27.8%.

 

  • When comparing to this time last year the higher percentage of tenants leased properties between the $300 - $400 bracket has now increased to $400 to $500 per week with the median price sitting $420.

 

If you wish to discuss the current market or any other issues relating to your investment property feel free to give our team a call.

 

DATE SOURCE:  Allhomes.com.au