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Canberra Real Estate Experiences Value Boost

By Ben Faulks

Belconnen real estate may be benefiting from recent home value rises in Canberra, with the city experiencing a 3.8 per cent boost in prices over the March quarter.

The ACT capital also saw a 0.8 per cent monthly increase and a 3.4 per cent jump year on year, according to new figures from RP Data and Rismark International.

Statistics from the organisations' monthly Hedonic Home Value Index revealed the median dwelling price in Canberra is now $505,000, with total gross returns sitting at 8.4 per cent.

Nationally, the aggregate average across Australia's eight capitals was 6.9 per cent gross returns, with a median home price of $465,000.

Ben Skilbeck, chief executive officer at Rismark International, noted that the figures were impressive across the board, with all capital cities throughout Australia putting in positive performances. 

"Not only were there no value falls recorded across the capital cities, but, over the past three years, the all dwellings result of +1.32 per cent for the month was second only to the +1.40 per cent increase observed in September 2012," he explained.

Mr Skilbeck confirmed the March 2013 results were among the strongest seen over the three years since the same month in 2010.

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