Natalie Roberts

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Canberra Market Comparison March/April

Market Summary | ACT

  • New supply decreased to a 4-month low and is lower annually. For the month of April, new listings are at the lowest since 2023.

  • Total residential sale listings live on Allhomes increased slightly over April, and remains up year on year. Inversely, total residential rental listings live on Allhomes decreased both   monthly and annually.

  • Auction clearance rates rose over the month, the only capital city to see an increase. Auction volumes are at a 3-month low but for the month of April, it’s the highest since 2022.

  • DOM for houses have risen for the fifth successive month and is at its highest since May 2024. For this time of the year, it is at its lowest since 2023. DOM for units have   decreased for the second successive month but for this time of the year, it is the highest since 2021.

  • Discounting houses has increased for the second consecutive month to a 5-month high. When comparing this time of the year only, it is at its lowest since 2021. Discounting   units declined for the fourth month in a row to its lowest in more than a year. For this time of the year, it is the lowest since 2023.

  • Distressed listings are at their lowest since May 2022.

  • Canberra house prices declined for the third consecutive quarter, slipping by almost $13,500 (-1.3%) – the weakest period seen since mid-2022. The median now stands at its   lowest in 15 months, $124,000 (-10.6%) below the June 2022 peak, placing Canberra the furthest from its price peak and reflecting a prolonged struggle to move into a sustained   recovery over the past three years. Canberra unit prices declined for the third successive quarter by almost $32,300 (-5.7%) – back-to-back falls not seen since 1994.

  • Canberra house rents rose for the second consecutive quarter, increasing by 0.7% (or $5) to a high of $700 per week. Canberra unit rents rose for the second consecutive   quarter, increasing by 1.8% (or $10) to a record high of $575 per week – fully recovering the rental declines recorded over 2024.

  • Gross rental yields for houses in the ACT increased over the March quarter, as well as growing annually (0.3% and 1.0% respectively). Unit yields also experienced growth both   quarterly and annually (5.8% and 5.0% respectively).

  • Canberra’s vacancy rate is steady at 1.2%. This is the lowest vacancy rate for the month of April since 2022.

Natalie Roberts