House prices in Australia continue to rise at an unsustainable rate, according to the latest Australian Bureau of Statistics data reported by the Housing Industry Association (HIA) on 19 September.
Renting in Canberra could be your only viable option moving forward unless there are drastic changes to the delivery of future housing stock. When you work with Civium to find and manage your strata home, that’s not a stressful thought.
“The annual pace of dwelling price growth across Australia’s eight capital cities moved up a gear to 10.2 per cent during the June 2017 quarter,” said HIA Senior Economist Shane Garrett.
“Dwelling price growth is still strongest in Sydney and Melbourne. Hobart and Canberra also showed robust price growth.”
If you’re a part of the significant portion of the population that is being priced out of the market by rising values, you should look at strata in Canberra as a solution.
Rentals could be your best option
If you can’t afford to pay over a million dollars for a house in Sydney or Melbourne, according to CoreLogic RP Data’s monthly indices to the end of August 2017, you’ll need to rent. Strata homes are fantastic options because the maintenance of the property is taken care of by the owners corporation, so all you have to do is look after the interior of your flat.
Renting a strata home could be significantly cheaper than buying a house in one of the main cities, and the value increases aren’t showing signs of slowing down either.