Things are looking good for Canberra’s housing market

September 6th, 2019

 

“…Canberra will see 10% growth between 2019 and 2021, where median house prices will rise to $745,000 by June 2021.” OBE’s Australian Housing Outlook.

 

It has taken time, but the outlook for our housing market is on the upswing thanks to a few key factors. So, what’s fuelling the positive change?

  • Our strong workforce, supported by the Federal Government, as well as Canberra’s universities.
  • The ACT’s unemployment rate sitting below NSW’s at just 3.9%.
  • The number of migrants moving here from interstate and overseas, for both the workforce and universities.
  • Proposed zoning changes that will change the density of the city to allow for more multi-level developments.
  • A high rental demand, particularly for detached houses.

 

The best places to invest in Canberra

Even if growth slows slightly in the next year, Canberra is looking like more than just a safe bet for investment.

Hotspots for investment are generally located around town centres that are still close to the Canberra CBD. Think: Belconnen, Kippax, Macquarie, Monash, Kambah and Wanniassa, all just out of the inner north and south, but still within a 10-minute drive to the city.

Since Canberra has been designed around town centres, suburbs close to shopping facilities, amenities and entertainment are expected to experience the most substantial growth. The Belconnen area is tipped to perform particularly well, thanks to its proximity to the University of Canberra, Westfield Shopping Centre, the CBD and Lake Ginninderra.

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