January 3rd, 2008 — ACT, Canberra
Canberra Real Estate - Canberra in the ACT is the national capital and is situated between Sydney and Melbourne. The city has a much smaller population at around 350,000 people. Average house prices are in excess of $400,000 and average unit price is almost $350,000. A shortage of rental properties is pushing returns higher for property investors with units and flats looking the most attractive at this point.
Canberra Sep quarter median % change Jun 07 – Sep 07 % change
Sep 06 – Sep 07
House Price $425,000 -0.4 +8.1
House Rent (3 b/r) $350 pw 0.0 +9.4
Unit Price $346,000 +3.3 +11.0
Unit Rent (2 b/r) $340 pw +3.0 +13.3
Vacancy rate 2.2 -0.2 -0.2
Canberra Features:
Parliment House, Lake Burley Griffin, National Capital Exhibition, National Library of Australia, National Portrait Gallery, Home of the Royal Australian Mint.
Australian national university
January 2nd, 2008 — Melbourne, Victoria
Melbourne Real Estate - Melbourne Victoria has enjoyed a bouyant property market over the last 5 years, stong demand has driven prices up and even with the market slowing down over the last 12 to 18 months Melbourne remains an attractive market for real estate investors. Medium to long term investing in property close to the inner city of Melbourne has given a great percentage return in terms of capital growth. The improved freeway system has opened up the outer areas to the north and east, families have taken to the new housing estates which have become major growth areas, house prices have risen accordingly as have rental returns for property investors. Melbourne also has the bayside suburbs wich offer the expensive waterfront luxury properties, again these areas are popular with investors and renovators. Property investing in the second largest city in Australia should always provide good returns provided buyers take the time to do their homework.
Melbourne Sep quarter median % change Jun 07 – Sep 07 % change
Sep 06 – Sep 07
House Price $431,000 +3.9 +13.1
House Rent (3 b/r) $260 pw +4.0 +10.6
Unit Price $367,800 +5.1 +14.6
Unit Rent (2 b/r) $270 pw +3.8 +12.5
Vacancy rate 1.2 -0.2 -0.4
Melbourne Features -
The MCG home of the AFL Grand Final
Melbourne Tennis Center Home of the Australian Open
Flinders Street Station
The Yarra River
Amazing cafe / dinning culture in and around the CBD
