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
- Stirling, 12.3 days
- Weetangera, 18.7 days
- Bonner, 19 days
- Spence, 19.2 days
- Flynn, 20.9 days
- Hawker, 21.2 days
- Hughes, 21.4 days
- Curtin, 21.5 days
- Latham, 21.9 days
- Melba, 22 days
Townhouses/Apartments
- Franklin, 17.6 days
- Deakin, 22.9 days
- Cook, 24.7 days
- Duffy, 26.3 days
- Nicholls, 31.8 days
- Florey, 32 days
- Narrabundah, 33.4 days
- O’Connor, 33.6 days
- Jerrabomberra, 34.9 days
- 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 |
|
|
|
|
|
|
|
|
|
|
* 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