This month’s CoreLogic Housing and Economic report is filled with good news for Canberra property investors. We explore just some of the report’s valuable indices here and what it means for those looking to expand their portfolio in Canberra.
Canberra is keeping up with Australia’s top-performing capital cities
According to the report, Canberra dwellings have shown significant growth in the three months to July 2017. While values have fallen in Perth and Darwin, Canberra stands alongside Melbourne and Sydney with values increasing by more than 10 per cent. With no sign of slowing, now remains a good time for investors to continue to grow their portfolio by purchasing additional properties in Canberra.
The report’s findings on rental yields are also incredibly positive for Canberra investors. While the rest of the nation experienced historically low gross rental yields (3.1 per cent) in July, yields remained unchanged in Canberra, indicating that renters are still willing to pay competitive prices for top Canberra properties.
Although a flat line might not seem particularly optimistic, it is when you consider that Canberra and Adelaide were the only two cities that didn’t experience falling rental yields.