It seems like everyone is complaining or panicking about the Australian property market beginning to slow down. Values in the major cities seem to have peaked, while landlords in the majority of the capitals are lamenting stagnated rental increases.
However, don't fret if you're a Canberran – ours is one of only three states that has escaped these stuck-in-the-mud yields.
CoreLogic RP Data statistics show that Sydney, Melbourne and Canberra have all seen rent prices increase over the last year. Melbourne showed the strongest gains at 2.2 per cent year-on-year, though Canberra beat Sydney out with 1.6 per cent to 1.5. Canberra is clearly showing its ability to stand amongst the traditional investment cities of Australia.
Meanwhile, Belconnen rentals have also been showing good returns for landlords, outperforming the already-excellent Canberran rises. SQM Research demonstrates a 1.8 per cent yearly increase in rents for houses, while units have really shown their strength with a 2.9 per cent annual boost.
Clearly, the strength that seems to be falling out of other markets hasn't found it's way into the capital of the ACT! While general market trends can mask a bad suburb, Belconnen is certainly showing itself to be a good investment with such excellent rental increases.
Think it might be time to jump on board this rising trend in Belconnen apartments? Get into contact with the team at Ray White Belconnen and find out how we can help you get your hands on the perfect investment unit today!