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Reduced Price Growth For Capital City Property Good News For Buyers

By Ben Faulks

First home buyers interested in purchasing Belconnen real estate could be in for fantastic news, as the latest RP Data-Rismark Hedonic Home Value Index has found capital city property prices cooled down during April. 

This cold provide some breathing room for those saving up a deposit and offer the opportunity to secure property over the coming months. This comes after massive growth during the first part of the year – with March seeing a 2.3 per cent rise in values, and an overall increase of 3.5 per cent for the first quarter of 2014. 

RP Data Economist Tim Lawless said the reduction in capital gains for property in capital city markets has brought the industry back to a more sustainable level of growth, which further aids the efforts of first home buyers who were previously pushed out of the market. 

The median dwelling price in Canberra is currently resting at $510,000, slightly below the combined state average for Australia. This presents a good chance for buyers – first time or not – to make their move into the real estate market and being investigating property for sale in Australia's capital city.

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