The real estate market in Canberra is slowly improving, much like the rest of the housing market moving into 2020.
Dwelling values in Canberra show annual growth rate of 3.0% over the last 12 months (which is much higher in comparison to the annual growth rate seen in the previous two years).
As of January 2020, the median dwelling price in Canberra is $611,841 with median house values at $687,799 and median unit values of $434,999, showing annual growth of 2.3% over the past decade.
Housing demand in Canberra is still going strong and steady and this is shown in the weekly rent and yields figures. Rentals yields are among the highest throughout the capital cities, with weekly rent sitting at $510 for houses and $530 for units. The gross rental yields currently are still climbing from previous years, with a fair jump of 4.3% for houses and 5.8% for units as we move into 2020.
The clearance rate for Auctions is at 63% in January 2020 as opposed to 44% this time last year.
The average number of days on the market for sale properties decreased with 30 days on the market being the average (slightly less than the average of 34 days on the market this time last year.)