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Why should I move into a Canberra property?

By Ben Faulks

If you're struggling to find a home in one of Australia's capital cities, you should look into Belconnen apartments and houses.

According to a release by CoreLogic RP Data, dwelling prices in Australia's capital cities rose over the 12 months to July by 11.1 per cent. Sydney and Melbourne boasted the highest median housing values of $790,000 and $568,000, respectively.

While property headlines are focused on a market heavily inflated by investors battling for real estate, not everyone is in it for the money. For those who simply want a comfortable place to call home, it can be difficult to find property in a great city at an affordable price.

This is where Canberra comes in.

According to CoreLogic, Canberra has a median dwelling value of $548,200; notably lower than Sydney and Melbourne's prices.

Don't let this fool you into thinking that Canberra is a less appealing city in any way. People often attribute lower housing values to a city being less developed or having fewer economic opportunities.

With this capital city, it's entirely the opposite. The Australian Bureau of Statistics (ABS) recorded that in May 2015, the average weekly earnings for a full-time adult in ACT was $1,707, making it the highest-paying state in the country.

Furthermore, the Sydney Morning Herald reported figures from ABS that showed unemployment rate in the Australian Capital Territory had dropped for the eighth month in a row. This is a sign of growing confidence by businesses and the local economy.

With high wages, low housing prices and a blooming state economy, there's no reason why you shouldn't give Belconnen real estate your attention. Get connected with Ray White Belconnen, and we'll find you a great array of homes in one of the territory's best suburbs.

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