
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
- Oxley, 6.9 days
- Hawker, 14.2 days
- Kaleen, 16.8 days
- Higgins, 21.3 days
- Forrest, 23 days
Townhouses/Apartments
- Holder, 7.2 days
- Greenway, 12.7 days
- Downer, 19.2 days
- Campbell, 20.9 days
- 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. Hawker |
|
2. Duffy |
|
3. Melba |
|
4. Queanbeyan East |
|
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