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Canberra Housing Market Strengthens During Early 2014

By Ben Faulks

Now could be the perfect time to consider purchasing houses for rent in Belconnen, as the latest release from the Australian Property Monitors (APM) has highlighted the recovering real estate industry in the capital. This could provide a number of investment opportunities for Belconnen real estate in the coming months. 

According to the release, the latest auction results for Canberra have illustrated a recovering market, with low interest rates expected to remain a catalyst for this growth. The Reserve Bank of Australia has shown no indications of increasing the cash rate anytime soon, which could be great news for investors. 

Furthermore, unemployment has dropped since January 2013, falling from 5.1 per cent last year to 4.2 per cent 12 months later. The auction clearance rate in the city for February 2014 was recorded at 55.7 per cent – slightly higher than the 54.2 per cent clearance rate from February 2013. 

These signs all point towards an increasing strength in the real estate market across the region. This could offer a number of investment opportunities for smart buyers in the coming months, especially if you're looking into houses for rent in Belconnen. 

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