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How are home values performing at the moment?

By Ben Faulks

It's not always easy to know when the right time to buy property in Dunlop is, but the latest research could provide a valuable insight. The winter 2015 National Australia Bank and CoreLogic RP Data Australian Housing Market Report shows that property values have fallen across the ACT over recent months.

Results reveal that home values throughout the city increased 1.1 per cent between April 2014 and the same month of this year. However, it could be units that offer the greatest value at the moment, as values have declined 2.1 per cent over the 12-month period. Houses, on the other hand, have witnessed a 1.1 per cent rise.

There is a big difference between the most affordable and expensive suburbs in the ACT. Findings show that the lowest median value for houses in the ACT will be found in Charnwood, where buyers can expect to pay around $391,560 for a home. At the other end of the scale is Forest, where the average house price stands at $2.01million.

NAB General Manager of Home Lending Meg Bonighton said: "Buying a home can be daunting, and we recognise that individual circumstances will vary, so it's important to sit down with your banker or broker to work out a plan that's right for you." 

Earlier this month, results of the CoreLogic RP Data Hedonic Home Value Index for May were released, pointing to rising property values across Canberra.

The results showed that dwelling values increased 1.4 per cent month on month and were up 1.7 per cent from the previous three-month period. On an annual basis, values increased 2.4 per cent, making it one of the most muted rises in the country.

For help finding your next property in Dunlop, get in touch with the team at Ray White Belconnen.

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