A joint study by Aussie Home Loans and CoreLogic has revealed the most affordable suburbs across Canberra, with only one suburb (Taylor) posting a median house value less than $400,000.
CEO of Aussie, Mr James Symond said “Canberra remains one of the few capital cities where housing values are still largely increasing, up 3.4 per cent over the past 12 months.
"All but one of the top 20 suburbs for houses experienced value growth over the last year, however the pace of growth has slowed and overall conditions have softened, especially unit values where 12 of the top 20 suburbs based on median unit values experienced falls in the last 12 months.”
Taylor posted the lowest median house value at $364,270, with five other suburbs recording a median house value under $500,000; Belconnen, Phillip, Charnwood, Holt and Richardson.
The unit market is showing far more affordable options than detached housing. Across the top 20 most affordable suburbs for units in Canberra, 19 have a median value under $400,000. The cheapest suburb to buy a unit is Chifley at $327,506.
Within the 10km ring of Canberra Civic, only two suburbs are recording a median house value under $500,000; Belconnen ($403,288) and Phillip ($447,017). In the apartment market, the range of affordable options is broader, with 12 suburbs within 10km offering a median unit value under $400,000, with Chifley the most affordable ($327,506).
“If you’re saving up to buy your first home or investment property, now’s a great time to speak with an Aussie Broker. Our report reveals some quality affordable housing in suburbs across the ACT, and with record low interest rates buying a property could be more achievable than you know,” said Mr Symond.
All customers who attend a free appointment with an Aussie Broker before 30 April 2019 will go in the draw to win $15,000*. To view the full Aussie/CoreLogic Most Affordable Suburbs report, visit www.aussie.com.au/mostaffordablesuburbs or contact an Aussie Broker for your free copy.
*T&Cs apply, see aussie.com.au/promotions for details.