Market Wrap - January
31 January 2017
Welcome to 2017! We hope you all had a fantastic break and we are excited to see what the property market has in stall for 2017. Below are the statistics for the Canberra property market for December 2016 and the year ended strongly. I expect the sales market to remain consistent during the next 12 months and expect the rental market to improve. During the last 30 days the rental market has been the strongest for the last 3 years. Our leasing team has received:
- Over 5500 enquiries
- Over 800 applications
- Over 2000 prospective tenants inspecting properties
The Government Departments seem to be recruiting again and all looks good for the next 6-12 months.
As always, if you wish to discuss the current market conditions feel free to give one of our team members a call.
SALES
QUICKEST SELLING SUBURBS
Houses
- Lyneham, 5.6 days
- Hawker, 16 days
- Flynn, 18 days
- Garran, 18.3 days
- Florey, 19 days
- Barton, 19.8 days
- Waramanga, 20.2 days
- Evatt, 20.6 days
- Giralang, 20.9 days
- Page, 21.6 days
Townhouses/Apartments
- Karabar, 14.8 days
- Weston, 16.5 days
- O’Malley, 21.9 days
- Torrens, 23.2 days
- Palmerston, 23.8 days
- Weetangera, 24.5 days
- Isaacs, 25.9 days
- Florey, 27.1 days
- Mawson, 28.2 days
- Calwell, 28.2 days
MEDIAN PROPERTY PRICE
|
Property Type |
Median |
|
Houses |
$638,000 |
|
Townhouses |
$435,000 |
|
Apartments/Units |
$381,000 |
*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 |
32.6 |
77.4 |
|
Greater Queanbeyan |
69.5 |
152.6 |
|
Gungahlin |
44.3 |
110.4 |
|
Molonglo Valley |
107 |
48.7 |
|
North Canberra |
35.4 |
97.4 |
|
South Canberra |
37.4 |
83 |
|
Tuggeranong |
42.4 |
114.1 |
|
Weston Creek |
44 |
87.9 |
|
Woden Valley |
43.2 |
87 |
TOP 5 AFFORDABLE SUBURBS
|
Houses |
Townhouses/Apartments |
|
|
|
|
|
|
|
|
|
|
* 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 |
18.7 |
23.2 |
|
Greater Queanbeyan |
35.3 |
25.4 |
|
Gungahlin |
22.4 |
16.8 |
|
North Canberra |
19.7 |
23.8 |
|
South Canberra |
31 |
26.2 |
|
Tuggeranong |
20.1 |
21.9 |
|
Weston Creek |
16.3 |
20.3 |
|
Woden Valley |
23.8 |
25.4 |
1241 residential properties rented
- Annual decrease of -7.7%
- Quarterly increase of +1%
- Monthly decrease of -1.7%
ACT and Queanbeyan median rent was $440
- Annual increase of +4.8%
- Monthly increase of +2.3%
1157 newly listed residential properties
- Annual decrease of -4.9%
- Quarterly increase of +14.2%
- Monthly decrease of -23%
On average time spent on the market 23.3 days
- Annual decrease of -27.3%
- Monthly decrease of -2.6%
DATE SOURCE: Allhomes.com.au