Australia's capital is well known by people all over the country, and demand for property proves Canberra is becoming one of the more popular places to live as well.
Compared to more expensive areas like Melbourne and Sydney, it's seen as a bargain for house hunters. Canberra's suburbs were once an afterthought in comparison to the million dollar listings found in the Inner South of the city, but prices have risen all across the region as interest grows. Given these trends, now is a great time to buy into the market before home values really begin to skyrocket.
The recent trend of growing demand for homes in the suburbs of Canberra points to the fact more families are moving further out. Houses in Harrison, Crace and Bonner have seen the sticker prices rise between 62 and 105 per cent over the past five years, according to Domain. Even the outskirts of the region like Casey are gaining interest.
"Casey is a great place to live – it's close to shops, schools, sports fields and easy to get everywhere else," Cindy Groeneveld told Domain. "A lot of quality homes have been built and prices seem to jump a lot after Casey Market Town opened."
Part of the reason behind the rising popularity is the value home buyers are getting, even despite the fact that prices are trending upward. Also, areas like Bruce and Aranda offer great transportation to the city, and there are a number of prestigious schools in the area.
Of course, home price says little about why the area is attracting families. Canberra is billed by many as a great place for a family holiday, as it offers something for everyone. It's easy to see why many are considering living in the region as well.
Attractions like the National Zoo and Aquarium, Australian Institute of Sport and National Aboretum all offer unique adventures that serve as the perfect day trip destination for families with children of all ages. If the weather is especially hot, everyone can cool down at the Big Splash Waterpark for the afternoon as well.
Don't wait for home prices to stop rising in this popular area. Contact a Ray White representative today to find the perfect home for your family.