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
Queanbeyan West	1.    Hawker
Banks	2.    Duffy
Calwell	3.    Melba
Ngunnawal	4.    Queanbeyan East
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