Canberra the strongest real estate economy in capital city Australia
Canberra didn’t follow Sydney into a major property boom and now that Sydney is falling, Canberra is steadily on the rise. Right now, Canberra has more growth markets than at any time since Hotspotting began its quarterly location-by-location surveys four years ago. The norm now in Canberra is suburbs where median prices have grown by more than 5% in the past 12 months, while only a handful have falling prices.
In this latest survey, there are 26 suburbs where demand is rising, as well as 37 others where demand is steady and consistent. Unlike Sydney, the Canberra market has no suburbs classified as declining markets or as danger markets.
It is undoubtedly one of the steadiest markets in the nation. Indeed, Canberra is regarded as the strongest real estate economy in capital city Australia.