Agent view: Canberra prices still buoyant

Since the end of the federal election, the Canberra property indicators are pointing high.

The median house price for the June quarter has risen to over $610,000 and there is no sign of this slowing down in the current low-interest-rate environment.

The properties priced between $400,000 and $700,000 are attracting the biggest crowds and selling faster than ever in most of the regions. The housing supply is still struggling to meet demand in the ACT as the population growth continues to nudge ahead.

Moncrieff, the newest suburb of the Gungahlin region, is setting new records in the median house sale price and there is more demand than supply of new homes in Moncrieff; especially the three-bedroom and two-bathroom with double garage homes.

To build a dream home, it looks that new home buyers have to accept the reality of life and pay extra for a block of land in the ACT compared with the 2015 land sale prices.

Shaun Iqbal is principal of Impact Properties Gungahlin