Canberra Property Investment

Canberra's property investment outlook is relatively positive. Valuation firm HTW, says Canberra has a steady sales market with tightening vacancies and a shortage of rental property and ANZ's opinion also believes pent-up demand will grow.

With migration tipped to stay solid in 2007/08, Canberra's underlying demand should stay strong. BIS Shrapnel says these factors will push the median prices up 5 percent to $450,000. But over the two years to 2009/10, net overseas migration is expected to slow while net interstate migration should have zero impact.

This is anticipated to see underlying demand and the current stock deficiency stabilising causing growth to ease. Subsequently, house prices are forecast to rise by just over 4 percent in 2008/09 and 6 percent in 2009/10, increasing the median house price to $500,000 by June 2010.

Four years after the Canberra property market reached an all time high in 2003, property in the Australian capital is again attracting strong demand and even stronger prices. Canberra property is rising right across the board whether you are talking about the units in the inner city or the outer areas, the market has been particularly bouyant. Basically the reason behind this is supply and demand, simple economics. With huge demand and an under supply, cranes in the sky, many construction workers building houses, public service is growing, defence is growing, canberra is growing. The last interest rate rise didn't seem to worry the market at all.

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