Domain has released its most recent wrap-up report for what’s driving the ACT’s Residential Property Market, here are our takeaways.
Domain has released its most recent wrap-up report for Australia’s Property Market, including most searched terms and property types, and in-demand suburbs across Australia’s capital cities and regions. Here are our takeaways from the report.
Most desired property types
The most in-demand house type in Canberra was a 4 bed, 2 bath, and 2 car house, this type was the most searched for across most states. The most searched for townhouse type was for 3 beds, 2 baths and 2 cars, and the most in-demand apartment type was 1 bed, 1 bath, 1 car.
In-demand suburbs
Aranda was the most searched for suburb in the ACT, followed by Latham, Forrest, Farrer and Nicholls.
On average, homes in Macgregor sold the fastest, with listings in the suburb staying on market for an average of 36 days. Gordon in the south was second with an average days-on-market (DOM) of 41 days, followed by Wanniassa, Dunlop and Casey with an average of 42-46 days on market.
Price per square metre
Canberra’s North topped the list for most expensive suburbs per m2, with Crace, Casey, Taylor, Franklin and Gungahlin costing buyers over $2,324 per sqm.
Canberra South filled the list for least expensive, with four out of five suburbs listed within the Tuggeranong Valley. Suburbs included Chisholm ($982 per sqm), Kambah, Wanniassa, Calwell and Evatt.
Top Keyword Searches
People searched most for a ‘view’ in their properties, making it only one of two capital cities where a ‘pool’ wasn’t the top search. The five most in-demand keywords were:
- view
- pool
- south
- garage
- north
Crossing the Border
Research from Domain found that Canberrans are increasingly looking to hop over the border to NSW, with 47% of searches directed there. This is likely an indication of buyers seeking more affordable areas within proximity to the territory.
With increased demand comes increased pricing. For example, the median house price in the Greater Queanbeyan District has increased by over 16 per cent in the past 12 months.
Why this data is important
Reports such as these allow our agents to make well-rounded and informed recommendations to you. By understanding market trends, in-demand suburbs and keyword searches, our agents can give you a better understanding of your home’s potential value.
Need advice? Whether you’re a first-home buyer, a seasoned investor, or somewhere in between, our Residential sales team can help. Click here to get in touch with one of our agents.
To read Domain’s report in full, you can download a copy on their website.
