You have 0 free articles left this month.

State of Markets – ACT February 2012

01 FEB 2012 • By Phillip Tarrant • 2 min read • Hotspots

Essential information, plus expert insight on what is shaping the national property market...

spi default article image em4omm

AUSTRALIAN CAPITAL TERRITORY

Fast Figures

You’re out of free articles for this month
  • $465,000 – median unit price in Kingston, ACT
  • 5.5% – average gross rental yield for Kingston units
  • 9.4% – three year growth for Kingston units

ACT property more affordable: report
Properties in the ACT have become more affordable due to increased wages and reduced interest rates, according to the latest Housing IndustrY Association-Commonwealth Bank affordability report.

“A combination of healthy earnings growth and a slight decrease in mortgage lending rates drove the September 2011 quarter improvement,” the report said.

This is the third straight quarterly improvement recorded.

“The median dwelling price in the ACT was relatively unchanged in the September 2011 quarter, posting an increase of 0.1 per cent to $542,600.

“Average weekly ordinary time earnings of an adult working full time increased by 1.2 per cent during the quarter while the average mortgage lending rate over the quarter was down by 0.03 percentage points.”

Price growth partially offset the affordability improvements, the report said.

With a combined rise in average earnings and current cuts in mortgage interest rates, the affordability index reported a 1.8 per cent improvement over the September quarter.

However, this is still 0.8 per cent above the September 2010 level.

Canberra population to surge
Demand will outpace supply in Canberra, benefitting investors as a result, according to new research from Colliers International.

With the capital’s population set to surge by 20 per cent by 2031, demand for housing – particularly smaller lots – will grow, according to the Research and Forecast Report: Canberra Communities.

ACT apartments saw record median rents late last year, with two-bed apartments reaching $440 per week.

Free investor loan check

Better property decisions start with smarter lending.

A free 15-minute finance check for property investors.

15 minutes Free No obligation

What are your lending goals?

Choose a goal to request a callback.

Buying againCheck my borrowing position Equity or refinanceReview my current loans Loan strategyGet a second opinion

Ready to talk?

Book a 15-minute call →

Finni Pty Ltd · Australian Credit Licence 384324 · Privacy

The ACT Planning and Land Authority’s Canberra Spatial Plan – which includes Gungahlin, Molonglo Valley and the Kowen Plateau – is designed to provide direction for residential development to ensure the market is not oversupplied.

Want to see more stories from trusted news sources?
Make Smart Property Investment a preferred news source on Google.
Click here to add Smart Property Investment as a preferred news source.

Tags:
Phillip Tarrant

Phillip Tarrant

AUTHOR

Phillip Tarrant is one of Australia’s leading property commentators, with more than a decade at the forefront of conversations shaping the nation’s property investment market.

As the long-time host of the Smart Property Investment Show and a regular commentator across property, finance and business, Phillip has interviewed thousands of investors, economists, advisers, brokers, agents and industry leaders, giving him a unique perspective on the trends, policies and market forces influencing Australian property.

Beyond property commentary in the media, Phillip is an active property investor himself, with first-hand experience building and managing a diversified property portfolio across multiple markets and cycles. His insights combines this practical investor perspective with deep exposure to the broader property and financial services ecosystem.

Phillip is also CEO and co-founder of Managed, an Australian property payments and technology platform transforming the way property managers, landlords and tenants manage rental payments and property transactions.

Through his writing, podcasts and industry engagements, Phillip focuses on cutting through market noise, challenging conventional thinking and helping investors make more informed, strategic decisions. His commentary regularly explores property markets, lending, taxation, regulation, investment strategy and the changing dynamics of Australia’s housing sector.

Know more