The Australian Capital Territory (ACT)’s robust economy performance will provide a solid backdrop to underlying demand for housing. Canberra housing returns to growth, but some uncertainty exists for the rental market.
Highlights of the report include: -
- Apartment transactions increase marginally over the 12 months to November 2019
- Price growth was flat y-o-y to January 2020, which likely means the rate of decline has bottomed and apartment prices will increase in 1H20. Detached house prices continued to increase over the same period.
- Rents grew at a robust rate over the year to November 2019 on the back of a tight vacancy rate (1.2%).
- Both apartment and detached house median rental yields were stable and remained one of the highest nationally.
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