News

In a month where house prices in other capital cities saw a drop, Canberra’s market remained strong in May, recording a 0.5% increase.According to data released by CoreLogic for the month of May, Australian dwelling values overall posted their first month-on-month decline since June last year, with the national index down 0.4%.But while five of the eight capital city regions recorded a fall in values, Canberra property prices saw a slight increase of 0.5%. Despite an uncertain start to the year and challenging economic conditions, overall property prices in Canberra sit at 5.1% higher than they were this time last year.Melbourne’s housing market posted the largest falls over the month, down 0.9% in May, while values were also down over the month in Perth (-0.6%), Sydney (-0.4%), Brisbane (-0.1%) and Darwin (-1.6%).And the latest figures show that transactions have picked up again, as COVID-19 restrictions ease across the real estate market. After a drop of 33% in April, CoreLogic said sales activity bounced back by 18.5% in May.“Measures of consumer sentiment have shown attitudes to be consistently improving since early April, after dropping sharply as the virus curve worsened and severe social distancing policies and border closures were implemented,” said CoreLogic head of research, Tim Lawless.“With consumers feeling more confident, households are better equipped to make high commitment decisions such as buying or selling a home. A lift in housing market activity should also support broader economic activity, with housing turnover providing positive flow-on effects to other sectors including retail, construction and banking.”Rents prices across the country were also generally steady in May, with Canberra rentals recording a slight decrease of 0.3%.Mr Lawless said in the context of weak economic conditions and the broader COVID-19 related disruption, housing values have been relatively resilient.“While downside risk remains, the trajectory of the housing market is looking healthier than what we were expecting a bit over a month ago. The virus curve has been flattened more quickly and effectively than even the best case scenario forecasts, meaning some of the most restrictive policy settings have been either lifted or relaxed. Consumer spirits have lifted, vendors are starting to test the market and buyer numbers have risen.”“Housing values have been remarkably resilient to date. If history is anything to go by, housing values have generally weathered periods of extreme uncertainty quite well, and the trend to date looks very similar.”

Canberra house prices increase in May, while other capitals see a decline

Been thinking about buying or building a new home, or doing a major reno? Now could be the time to do it with some Canberrans able to access more than $35,000 in grants and stamp duty concessions from today.The Federal Government has announced its brand new HomeBuilder scheme, offering $25,000 cash grants for new home purchases or major renovations. The scheme is designed to help keep the construction sector going and keep people in the building industry employed.To qualify for the scheme, you have to be building a new home worth less than $750,000 or renovating an existing property valued at less than $1.5 million, plus pass an income test.But don’t expect to qualify if you’re just keen to get your DIY on and give your house a freshen up. The grant is only eligible for renovations that cost between $150,000 and $750,000, and you must engage a licensed builder. It also excludes structures separate to the main property, which means adding a swimming pool, tennis court or shed won’t make the cut, and is only available to owner occupiers.To qualify for the HomeBuilder grant, applicants must be earning $125,000 or less if they’re single, or couples must have a combined income of less than $200,000. The scheme is available to people who enter into contracts between June 4, 2020, and December 31, 2020, so unfortunately that means if you’re already in the process of building your dream home, you’ll miss out.And the news gets even better for Canberra residents.On top of HomeBuilder, the ACT Government has announced that stamp duty will be waived or reduced for 12 months on new land or off-the-plan apartments in Canberra.Starting today and running until June 30, 2021, Canberrans who buy new land single residential blocks, or an off-the-plan apartment or townhouse, valued up to $500,000 will not have to pay any stamp duty. For purchases of off-the-plan apartments and townhouses valued between $500,000 and $750,000, stamp duty will be reduced by $11,400.So now might be the time to step up the search for a brand new home, or get working on those renovation plans. Start your search for land or off-the-plan properties now on <a href="/">Zango</a>.

Everything you need to know about the HomeBuilder grant and ACT stamp duty concessions

<h3>Canberra real estate auction results for the week of Saturday May 23, 2020:</h3><h4>LJ Hooker</h4><a href="https://zango.com.au/sale/18-halifax-close-palmerston-act-2913-27000/" rel="nofollow" target="_blank">18 Halifax Close, Palmerston</a> - SOLD - $547,000 7 Minnta Place, Ngunnawal - SOLD - $535,000<a href="https://zango.com.au/sale/5-throsby-crescent-narrabundah-act-2604-27034/" rel="nofollow" target="_blank">5 Throsby Crescent Narrabundah</a> - Passed in<a href="https://zango.com.au/sale/1-8-jalanga-crescent-aranda-act-2614-23581/" rel="nofollow" target="_blank">1/8 Jalanga Crescent, Aranda</a> - SOLD - $425,000<a href="https://zango.com.au/sale/13-5-colmer-street-bruce-act-2617-7361/" rel="nofollow" target="_blank">13/5 Colmer Street, Bruce</a> - SOLD - $515,000<a href="https://zango.com.au/sale/16-stump-jump-crescent-dunlop-act-2615-26941/" rel="nofollow" target="_blank">16 Stump Jump Crescent, Dunlop</a> - SOLD - $651,000<a href="https://zango.com.au/sale/30-turbayne-crescent-forde-act-2914-26919/" rel="nofollow" target="_blank">30 Turbayne Crescent, Forde</a> - Passed In<h4>Luton</h4><a href="https://zango.com.au/sale/57-atherton-street-downer-act-2602-27146/" rel="nofollow" target="_blank">57 Atherton Street, Downer</a> - SOLD - $1,180,000<a href="https://zango.com.au/sale/9-hetherington-circuit-mckellar-act-2617-27028/" rel="nofollow" target="_blank">9 Hetherington Circuit, McKellar</a> - Passed In<a href="https://zango.com.au/sale/62-vasey-crescent-campbell-act-2612-27140/" rel="nofollow" target="_blank">62 Vasey Crescent, Campbell</a> - SOLD - $1,526,000 <a href="https://zango.com.au/sale/67-kallara-close-duffy-act-2611-26989/" rel="nofollow" target="_blank">67 Kallara Close, Duffy</a> - SOLD - $799,500<a href="https://zango.com.au/sale/37-petterd-street-page-act-2614-27029/" rel="nofollow" target="_blank">37 Petterd Street, Page</a> - SOLD - $650,000 <a href="https://zango.com.au/sale/51-eugenia-street-rivett-act-2611-27025/" rel="nofollow" target="_blank">51 Eugenia Street, Rivett</a> - SOLD - $781,000<a href="https://zango.com.au/sale/7-winstanley-street-chapman-act-2611-26988/" rel="nofollow" target="_blank">7 Winstanley Street, Chapman</a> - SOLD - Price Not Given <a href="https://zango.com.au/sale/27-woolner-circuit-hawker-act-2614-20330/" rel="nofollow" target="_blank">27 Woolner Circuit, Hawker</a> - Passed In<h4>McGrath </h4><a href="https://zango.com.au/sale/4-bellinger-street-kaleen-act-2617-27431/" rel="nofollow" target="_blank">4 Bellinger Crescent Kaleen</a> - SOLD - $905,000

This week's real estate auction results for Canberra, ACT

The ACT Government has this week introduced temporary regulations to help renters affected by COVID-19.Supporting the Federal Government’s announcement of a moratorium on evictions, any tenants in the ACT who are unable to pay their rent will not be able to be evicted by their landlord, provided they can show they’ve been impacted by the COVID-19 pandemic. This means tenants will need to prove they have stopped earning income or had a reduction in income of at least 25% due to the COVID-19 pandemic to qualify.A rental freeze also applies to these COVID-19 impacted households, so any tenants who fit under the above criteria cannot be given a rental increase during the relevant period.In cases where a tenant is affected by COVID-19, they can instead negotiate a rental reduction with their landlord, which will be put in writing for a designated period of time.The temporary regulations also touch on issues including non-urgent repairs and inspections. During the relevant period, landlords or agents will only be able to access a residence with the tenant’s consent, or for urgent repairs or matters. Instead, inspections of the property have to be done by video chat or other electronic means.Want to know more? <a href="https://legislation.act.gov.au/View/di/2020-46/current/PDF/2020-46.PDF" rel="nofollow" target="_blank">You can read the full regulations here</a>.

Here’s how the ACT’s new COVID-19 tenancy rules will affect renters and landlords

Featured Listings

Looking to downsize, keen for a low-maintenance lifestyle, or just enjoy the high(rise) life? Here are four apartments on the market on Zango right now which we wouldn’t mind unpacking our boxes in.<h4>Executive living in Barton</h4><a href="https://zango.com.au/sale/13-45-blackall-street-barton-act-2600-24204/" rel="nofollow" target="_blank">13/45 Blackall Street BARTON, ACT 2600</a>Live in the heart of the parliamentary triangle in this executive three-bedroom apartment in Barton. Oozing with sophistication, the spacious apartment has a sun-filled open plan living area with timber floors, and plenty of storage throughout. All of the bedrooms have built-ins and large windows, or step outside onto the terrace from the living area for a peaceful, leafy outlook and Lake views. Live here and you’ll also get to make the most of the on-site gym.<img alt="2401:120 Eastern Valley Way BELCONNEN.png" class="richtext-image full-width" height="460" src="https://d2t3vhau9g43uy.cloudfront.net/media/images/2401120_Eastern_Valley_Way_BELCONNEN.width-800.png" width="800"><h4>The high life in Belconnen</h4><a href="https://zango.com.au/sale/2401-120-eastern-valley-way-belconnen-act-2617-22144/" rel="nofollow" target="_blank">2401/120 Eastern Valley Way, Belconnen</a>Not afraid of heights? Enjoy life on the 25th floor in this three bedroom, two bathroom apartment in Belconnen with panoramic views. The sun-filled, open plan living area includes a lounge, dining areas, plus a sleek kitchen with stone benchtops, and flows directly out to the balcony which wraps around one whole side of the apartment. All three bedrooms feature built-ins, while the master enjoys privacy away from the others plus direct access to the balcony and an ensuite. You’ll also get to make the most of the building’s indoor heated swimming pool which boasts impressive views of its own.<img alt="90:3 London Circuit CANBERRA, ACT 2601.png" class="richtext-image full-width" height="533" src="https://d2t3vhau9g43uy.cloudfront.net/media/images/903_London_Circuit_CANBERRA_ACT_2601.width-800.png" width="800"><h4>Inner city buzz</h4><a href="https://zango.com.au/sale/90-3-london-circuit-canberra-act-2601-23892/" rel="nofollow" target="_blank">90/3 London Circuit, Canberra</a>Don’t need much space and want to live right in the thick of things? This two bedroom, two bathroom apartment on the 11th floor is in the heart of the city, with cultural delights and some of the city’s best eats and drinks conveniently located right on your doorstep. Or you can stay in and take in those breathtaking views at sunset, looking across Lake Burley Griffin to the Parliamentary Triangle and beyond to the Brindabellas. The main suite even has its own balcony with Lake-views, plus an ensuite with double vanities and a heated towel rail. The building also has an indoor heated lap pool and sauna, a fully equipped gym, and a barbecue area.<img alt="15:43 Hampton Circuit YARRALUMLA.png" class="richtext-image full-width" height="510" src="https://d2t3vhau9g43uy.cloudfront.net/media/images/1543_Hampton_Circuit_YARRALUMLA.width-800.png" width="800"><h4>Penthouse living in Yarralumla</h4><a href="https://zango.com.au/sale/15-43-hampton-circuit-yarralumla-act-2600-1445/" rel="nofollow" target="_blank">15/43 Hampton Circuit, Yarralumla</a>The huge, freestanding tub in the bathroom was enough to catch our eye, but this two-level penthouse in an architecturally-designed boutique complex in Yarralumla has plenty more features worth inspecting. The huge ground level combines living, dining and gourmet kitchen, and you can pop out onto one of two balconies to enjoy views of Parliament House and the surrounding parklands. Up the stunning timber staircase are two spacious bedrooms, each with their own ensuite and built-in robes.<h4>Whether you&#x27;re looking for an apartment, house, or anything in between, find your next property on <a href="/">Zango.com.au</a>.</h4>

Downsizer delights: 4 apartments where you can enjoy the high life

Attending live auctions may no longer be allowed but that hasn’t slowed down house sales across Canberra, with auction clearance rates higher than the national average after the first week of online auctions.Ray White Canberra held seven online auctions during the week, with five selling under the hammer, and an additional two pre-auction sales took place. While the national average of auction clearance rates for Ray White Group was 60% during the first week of online auctions, Ray White Canberra had a 77.7% clearance rate.&quot;We had an average of three registered bidders per auction, with on average 90 people watching each live stream,” said Alec Brown, lead auctioneer for Ray White Canberra. “From those auctions we had two suburb records fall - $947,500 in Page, $823,000 in Holt.&quot;Ray White Canberra’s auctions are streamed online, with bidders registering online and bidding over the phone while they watch the live stream.Ben Faulks from Ray White Canberra said he believed buyers are still embracing online auctions due to the lack of quality detached housing available in the market. “The pent up demand in terms of finance pre-approvals won’t just disappear given the banks&#x27; desire to lend. We have also worked hard to remove any friction from the process so it’s a smooth process,” he said.“We are taking extreme steps to hold the ‘virtual’ hands of buyers and sellers as they transition online. Ultimately it’s about building trust, which is a good agent&#x27;s core competency.”

6 news articles with tag act

Canberra house prices increase in May, while other capitals see a decline

Everything you need to know about the HomeBuilder grant and ACT stamp duty concessions

This week's real estate auction results for Canberra, ACT

Here’s how the ACT’s new COVID-19 tenancy rules will affect renters and landlords

Downsizer delights: 4 apartments where you can enjoy the high life

Canberra clearance rates strong during first week of online auctions