Real Estate ACT - Property ACT

Real Estate ACT - Australian Capital Territory

After powering ahead over 2003 and early 2004, the Canberra property market has stalled. The REIA figures show Canberra’s average median house price dipped 2.8% over the year to December to $350,000.

A separate study by the Australian Bureau of Statistics also points to a price drop over December. The ABS House Price Index shows Canberra’s established house price declined 1.1% over December. Prices were steady (up 0.2%) over the year to December.

The Canberra Times reports that while some agents believe first home buyers are more active in the Canberra property market, homes are taking up to four months to sell.

Real estate agent Michael Potter said three-bedroom homes in Tuggeranong which had been on the market in the $370,000-$380,000 price bracket at the peak of the property boom were now being offered for $320,000.

1. Real Estate ACT - Recent Trends
2. Canberra Property Investing
3. Canberra Better Performing Suburbs