Canberra Housing Market Overview

The housing market in Canberra has slowed substantially after the announcement of budget cutbacks and job shedding in the Federal Budget.

In this, the eighth and final part of the Core Logic Quarterly Review of the Australian Residential Property Market and Economy series we look at the Canberra Housing Market.

The annual increase in home values in Canberra is the lowest of all capital cities and rents have fallen significantly.

canberra graph 1

 

Values

  • -2.4% over the quarter
  • +0.9% past 12 months
  • +1.9%pa last five years
  • +3.5%pa last ten years
  • +8.0%pa last 15 years
  • -0.2% lower than previous peak
  • +5.3% over the current growth phase

Annual sales volumes

  • 6,994 over year to October 2014
  • -1.4% over the year
  • Sales down from a recent peak of 7,658 in September 2013.

Rents

  • -1.6% quarter
  • -4.9% over the year
  • +0.6%pa last five years

Yields

  • No change over the quarter
  • -0.3 percentage points over the year

Selling time

  • +4 days over the quarter
  • -12 days over the year

Vendor discounting

  • -0.3 percentage point over the quarter
  • -0.7 percentage points over the year

canberra graph 2

Read through the whole eight part series below

Read Part 1: Sydney Housing Market overview here

Read Part 2: Melbourne Housing Market here

Read Part 3: Brisbane Housing Market here

Read Part 4: Adelaide Housing Market here

Read Part 5: Perth Housing Market here

Read Part 6: Hobart Housing Market here

Read Part 7: Darwin Housing Market here



Want more of this type of information?


Tim Lawless

About

Tim heads up the Core Logic RP Data research and analytics team, analysing real estate markets, demographics and economic trends across Australia. Visit www.corelogic.com.au


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