Canberra Property Investment

Canberra property market is tipped to stay solid in 2009/10. Canberra's underlying demand should stay strong pushing median prices up approximately by 5 percent. But over the two years to 2010/11, net overseas migration is expected to slow causing the Canberra property investment market to slow while net interstate migration should have zero impact.

These factors are anticipated to see underlying demand and the deficiency in property stock stabilise causing growth to ease, subsequently house prices are forecast to rise by about 6 percent in 2009/10.

In the ACT, unemployment is low, household income is strong and the property market is in a supply and demand equilibrium that is underpinning current price levels in the market. The slowest sector in the Canberra property market has been in the higher price range, of between $1M and $2M. The majority of house sales, some 54 percent, sold for between $300,000 and $500,000 while the top end of the market saw just 11 percent of houses sell for more than $700,000. Generally speaking investors in the Canberra property investment market are holding off from buying right now as they wait to see what happens to their investment in shares.

Despite a marked slowing of the economy unemployment should remain low and income growth tick along at a reasonable pace. Significant improvements in affordability should see prices well supported in the Canberra property market.

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