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Buyer Demand Changes Canberra Real Estate Market

By Ben Faulks

A new report has shown that buyer demand has risen over May in Canberra, which may be good news for those wishing to sell Belconnen or Gungahlin real estate.

Results for the Commonwealth Bank-RP Data Home Buyers Index (HIB) for May 2013 are determined by analysing both the level of houses on the market as well as the number of mortgage commitments. From there, it can be determined whether the market is best suited for buyers or sellers.

The HIB found that demand from homebuyers in Canberra is currently outweighing the level of available housing stock on the market for sale – showing that it is currently a sellers' market.

Canberra registered a score of four on the HIB, up by one point from the results seen in February. This shows that the property market in this capital city is steadily improving, which may have been helped by low interest rates.

Nationally, Canberra took the top spot for the best sellers' market in the country, followed by Loddon in Victoria, and Sydney.

This information suggests that now might be a good time for owners to take advantage of the high buyer demand and list real estate on the market. 

For help with listing Belconnen apartments or houses for sale, contact the experts at Ray White Belconnen today.

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