If you're wondering about when to sell your Belconnen property, you'll be wanting to ensure you get a great return on your initial investment. The latest CoreLogic RP Data Hedonic Home Value Index for February has highlighted the growing value of Canberra real estate, which could provide an incentive to put your home on the market.
According to the Index, Canberra property saw the median price for all property types rise by 1.8 per cent over the last year and is now resting at $510,000. Specifically, the median house price is sitting at $575,000 and the median unit price is $403,600 in the ACT capital city.
Furthermore, the annual change in dwelling values over the last 10 years in Canberra was recorded at 3.7 per cent. CoreLogic RP Data head of research Tim Lawless said that there has been increasing auction clearance rates and lower mortgage rates nationwide. This could be a great reflection of growing buyer confidence across Australia.
This could be great news for anyone wanting to put their home on the property market in the coming months, as increased confidence often translates into more buyers in the market – giving vendors more chances to secure a good sale return.