Canberra home prices are expected to continue rising at a pace is similar to 2018, according to a recent analysis.
The positive trend will be driven by the strong backdrop of economic and demographic conditions, according to CoreLogic.
The Canberra housing market has been one of the most solid performers in terms of capital gains, rental yields and market activity. The past five years have recorded dwelling values climbing at an annual pace of 4%, which is nearly equivalent to the rate of the capital gain recorded over the 2018 calendar year.
A separate report from SQM Research showed that while Sydney and Melbourne have been hit the hardest by last year’s downturn, Canberra was able to survive the market’s weak condition, with prices growing by 3.3%.
Canberra was also the only capital city where asking prices increased for both houses (at 3.4%) and units (at 7.9%) during 2018, according to a report by The Australian Financial Review.
Entering 2019, jobs growth remains robust, unemployment is the lowest of any state or territory, migration is trending higher and wage growth across the public sector has been consistently stronger than the private sector, according to CoreLogic. Additionally, with high household incomes, the ratio of dwelling price to income in Canberra is unchanged at a healthy 5.0.
Canberra home prices are expected to continue rising at a pace is similar to 2018, according to a recent analysis.
The positive trend will be driven by the strong backdrop of economic and demographic conditions, according to CoreLogic.
The Canberra housing market has been one of the most solid performers in terms of capital gains, rental yields and market activity. The past five years have recorded dwelling values climbing at an annual pace of 4%, which is nearly equivalent to the rate of the capital gain recorded over the 2018 calendar year.
A separate report from SQM Research showed that while Sydney and Melbourne have been hit the hardest by last year’s downturn, Canberra was able to survive the market’s weak condition, with prices growing by 3.3%.
Canberra was also the only capital city where asking prices increased for both houses (at 3.4%) and units (at 7.9%) during 2018, according to a report by The Australian Financial Review.
Entering 2019, jobs growth remains robust, unemployment is the lowest of any state or territory, migration is trending higher and wage growth across the public sector has been consistently stronger than the private sector, according to CoreLogic. Additionally, with high household incomes, the ratio of dwelling price to income in Canberra is unchanged at a healthy 5.0.
