There are more sellers than buyers in the Canberra property market, as a new report finds home values declined over the last three months.
First homebuyers Megan and Paul Watt bought a house at an auction in McKellar.Home values in Canberra declined by 0.3 per cent in October and 0.9 per cent over the quarter, according to a CoreLogic report.What's next?
The most recent CoreLogic report found home values in the nation's capital declined by 0.3 per cent in October, and 0.9 per cent over the quarter. CoreLogic Australia's head of research, Eliza Owen, said Canberra's housing market could be described as "pretty slow and steady", but with a little more weakness in recent months.
Real estate agent Treston Bamber, who listed the house the Watts family purchased, said confidence among potential buyers seemed to have increased in recent months.He said people were concern about whether interest rate rises. "Canberra has a relatively high median house value across the capital city markets – it's actually the second-most expensive.
Canberra Corelogic Data Latest House Dwelling Home Unit Appartment Price Cost Rise Decline Median Value Interest Rate Deposit Eliza Owen Auction Buyers' Market Housing Paul Watts Megan Watts Treston Bamber Mckellar
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