The cost of buying a home in Canberra appears to be stabilising. But the latest data from CoreLogic has revealed a big difference between houses and units, the latter decreasing in value with an increasing supply.
Category
📺
TVTranscript
00:00The median dwelling in Canberra will set you back about $845,000.
00:08That's only up 1.5 per cent on this time last year, while nationally prices have increased
00:14about 7 per cent over the same period.
00:17But not all Canberra homebuyers are in the same situation.
00:21The median house price is up 2.6 per cent to more than $967,000, but if you're looking
00:29for a unit, those prices have gone the other way, the median price down 2.3 per cent to
00:35about $580,000.
00:38CoreLogic's head of research, Eliza Owen, said the ACT saw a spike in unit completions
00:44from 2019 to 2023, which has helped keep downward pressure on the overall market.
00:51Nationally, Canberra is the second most expensive capital city to buy a house, behind only Sydney,
00:58and the fourth most expensive for units.