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Canberra
Real Estate Canberra ACTCanberra, Australia's national capital is situated approximately half way between Sydney and Melbourne. Canberra's carefully planned suburbs are separated by large patches of native bushland, while its city monuments and buildings are set around an artificial lake encircled by bike tracks. Canberra’s housing market has continued to slow over the first quarter despite a big increase in the number of first home buyers. According to The Canberra Times, house prices have dipped by up to $50,000 and many properties are taking months to sell as the housing boom fizzles.
Anecdotal reports of price drops are borne out in new house price data from the Real Estate Institute of Australia that shows that Canberra’s median house price fell over the December quarter. On a more positive note, Canberra’s low rental vacancy rate is good news for investors.
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