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Canberra Real Estate Prices Rise in June

By Ben Faulks

Across the June 2013 quarter, median house prices increased in Canberra, which may be an encouraging sign for owners and sellers of Belconnen real estate.

Recent research from the Australian Property Monitors (APM) showed an increase over the quarter of 1.8 per cent in Canberra, bringing the median house price in the city to $576,248.

This translates to a year-on-year rise of 4.2 per cent, which is a welcome change for owners of Belconnen and Gungahlin real estate.

Commenting on the release of the information, APM senior economist Andrew Wilson said the Canberra property market has "revived over recent months as the impact of an improved local economic performance has filtered into increased buyer activity".

Dr Wilson also noted that the current low level of interest rates have also helped to boost buyer confidence and activity.

A higher rate of activity may present a good opportunity for sellers to place their homes up for sale, with the potential of experiencing a shorter time on the market.

Furthermore, Dr Wilson has predicted that this winter season is going to be "one of the hottest on record" for real estate.

If you would like expert help with selling your home, contact one of the experts at Ray White Belconnen today.

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