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Australian Capital City Properties Experience Price Increase

By Ben Faulks

The growing strength of capital city properties across the nation has been highlighted by the latest Bendigo Bank/Real Estate Institute of Australia (REIA) Real Estate Market Facts release. This could be great news for anyone interested in purchasing houses for rent in Belconnen

Property investment could be a solid idea across the nation's capital cities, with REIA President Peter Bushby indicating the weighted average median price for homes increased by 5.7 per cent in January. Furthermore, other dwellings like apartments and townhouses saw their average median price grow by 4.5 per cent. 

"The weighted average, median house price for the eight capital cities is now $598,044. All capitals contributed to the increase, with the largest rise in Melbourne, up by 7.3 per cent," said Mr Bushby in a March 12 statement. 

When compared to the same time last year, the average median price for capital city homes has risen by 13.1 per cent. 

"The weighted average, median price for other dwellings for the eight capital cities was $482,584. Over the quarter, with the exception of Darwin, all Australian capitals had increases," said Mr Bushby. 

Now could be the perfect time to investigate Belconnen real estate – both house and apartments – for potential investment opportunities in the coming months. 

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