Our Blog From Canberra and Surrounds 

If you are a homeowner in Canberra, you really should count your lucky stars as house prices in Canberra have skyrocketed over the past few years. Since April 2019, Canberra has seen a rapid growth in house prices with the annual median price in the majority of Canberra suburbs going up by more than 20%, some suburbs have risen by more than 40%. Houses in the Belconnen area have been braking suburb sale price records all year. Why? We do not have all the answers here, but Canberra’s ever-growing population, and high numbers of government employees are definitely large contributors. Canberra’s population continues to grow, in 2021 we see 462K at our peak, which is quite a lift from 2019 where we were at 452K. This is at least 10,000 more people needing a home. Another important factor to note is that Canberra’s population is transient with the number of politicians and political workers coming in and out, timing their schedules with sitting weeks. Also, while this may be less of a factor now, Canberra has two universities Australian National University and University of Canberra, who host a very large number of international students. Probably another important thing to state to support house prices right now, most Canberran’s actually kept their job during COVID-19, whilst saving as people were not going on holidays. So, there is a lot of money in the market, and not enough houses to accommodate those wanting to buy, so there you have it, growing house prices. What does this mean for the Canberra market? If you own an investment home, you might want to consider selling. 20-40% is a massive jump in house prices, and nothing to be ignored. Even if your investment isn’t in the best suburb, you might be surprised what a renovation, big or small can do to its sale value. Our tips: Find a trusted builder in Canberra. There are many to choose from, but ensure you do your Google and word of mouth research to find the one that suits you. It’s recommended you find one soon as it is likely they are pretty busy with house renovations considering the market at present. Make sure you are patient as well, most builders in Australia are reporting longer than usual waiting times on supplies. Research your suburb Look on all of the real estate sites, but obviously in Canberra Allhomes is the most prominent. Also, go for house inspection adventures on the weekends and become a real estate expert pretty much overnight. Know what your price is before going to market. Do not forget the creature comforts. Ensure your heating and cooling system is top notch. Buyers in Canberra, especially newcomers to the market, will need confidence that their new home is adequately heated in winter and cooled in summer. We Canberran’s may have tough skin in our weather conditions but think of our new friends who struggle to handle the seasons in their first few years. One of the first things home buyers in Canberra look at when entering an open home is the heating system to get them through Winter and the air conditioning system to get them through the Summer. So, if you are looking for a sure fire way to add value to your property, installing a new air conditioning system is a great idea. Every property is unique and it’s best to call a professional to come out and talk through the options. Reverse cycle split systems are perfect for many homes in Canberra. Other options include but aren’t limited to ducted gas systems or reverse cycle ducted systems. If you need more advice on the best heating and cooling options for your home call us at Airconditioning Canberra. We supply, install, service and repair all brands. We are a family run business, that is owned and operated exclusively in Canberra and the surrounding regions.