Join Newsletter


First
Last
*
*
Tick all that apply
Please fill the text in this image in the field below to assist us in eliminating spam
 
Market Wrap - October 2016

Market Wrap - October 2016

30 November 2016

As another year comes to an end we include our final market update with statistics showing the performance of the residential market in the ACT over October. (Source- allhomes.com.au).

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

Our next update will be in the New Year, until then we wish you and your family a safe and happy Christmas and New Year.

 

SALES

 

QUICKEST SELLING SUBURBS

Houses

  1. Stirling, 12.3 days
  2. Weetangera, 18.7 days
  3. Bonner, 19 days
  4. Spence, 19.2 days
  5. Flynn, 20.9 days
  6. Hawker, 21.2 days
  7. Hughes, 21.4 days
  8. Curtin, 21.5 days
  9. Latham, 21.9 days
  10. Melba, 22 days

Townhouses/Apartments

  1. Franklin, 17.6 days
  2. Deakin, 22.9 days
  3. Cook, 24.7 days
  4. Duffy, 26.3 days
  5. Nicholls, 31.8 days
  6. Florey, 32 days
  7. Narrabundah, 33.4 days
  8. O’Connor, 33.6 days
  9. Jerrabomberra, 34.9 days
  10. Hawker, 35.1 days

 

MEDIAN HOUSE PRICE

Property Type

Median

All

$540,000

Houses

$631,500

Townhouses

$433,000

Apartments/Units

$380,000

*Median price is based on sales over the quarter. Trends are based on the moving median price change.

 

DAYS ON MARKET

District

All Houses

All Townhouse/Apartments

Belconnen

33.2

110.8

Greater Queanbeyan

92.6

137.5

Gungahlin

72.2

99.6

Molonglo Valley

97.5

67.8

North Canberra

33.7

129.2

South Canberra

46.4

131

Tuggeranong

48.3

97.6

Weston Creek

35.9

70.6

Woden Valley

35.1

117.1

 

 

TOP 5 AFFORDABLE SUBURBS

Houses

Townhouses/Apartments

  1. Banks, 7.1
  1. Hughes, 2.3
  1. Gordon, 6.6
  1. Hackett, 3.4
  1. Queanbeyan West, 7.2
  1. Curtin, 3.4
  1. Flynn, 7.2
  1. Crestwood, 3.5
  1. Fraser, 7.3
  1. Melba, 4.1

* 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

21.2

25.9

Greater Queanbeyan

25.6

23.9

Gungahlin

25.3

24.9

North Canberra

29.5

28.8

South Canberra

46.9

28.9

Tuggeranong

24.0

27.3

Weston Creek

24.2

28.9

Woden Valley

22.9

20.6

 

1048 residential properties rented

  • Annual decrease of -18.7%
  • Quarterly increase of +1.8%
  • Monthly decrease of -4.6%

ACT and Queanbeyan median rent was $430

  • Annual increase of +7.5%
  • No month-on-month change

1105 newly listed residential properties

  • Annual decrease of -8.2%
  • Quarterly decrease of -3.1%
  • Monthly increase of +5%

On average a property spent 26.3 days on the market (time listed to rented)

  • Annual decrease of -26.9%
  • Monthly decrease of -6.8%

Comparing the demand during the Oct-15 quarter to the Oct-16 quarter

  • The majority of leases during the October 2015 quarter were priced between $300 - $400
  • The majority of leases during the October 2016 quarter were priced between $400 - $500 a week.

 

DATE SOURCE:  Allhomes.com.au