With the current over-supply of units and apartments on the market, first-home buyers and first-time investors are spoilt for choice.
The climate for buying into the Canberra market hasn’t been more affordable for many years, aided by the prospect of a continuation of record low interest rates.
Due to a reduction in the number of available homes in the ACT, the bottom end of the market has firmed up over the last few months and looks poised to continue this trend through the early part of 2016.
As we look higher through the price brackets recent sales have indicated strong consumer confidence with many hotly contested auctions.
I remain extremely optimistic for the Canberra property market in 2016.
Tom Ellis is principal of Bertram Ellis Real Estate