Local broker says Canberra market “in good shape”
Local Loan Market mortgage broker, Craig Butt said the Canberra housing market is gaining momentum after a year of uncertainty in 2015.
“During the past year we’ve seen periods of uncertainty. Earlier in 2015 a lot of markets went through a tough time as buyers showed a lot of restraint.
“What we did see as we moved towards the end of 2015 was a much-needed boost and I think that’s left the Canberra property market in good shape for the coming year.
“Over the past 12 months, house prices are up 6 percent - that’s huge for Canberra in recent times” Craig said.
Expressing caution that he doesn’t expect a property boom, Craig went on to say that he doesn’t think the market will drop back to where it was in early 2015.
“The market is far from where Sydney and Melbourne are and have been in the past few years, but it isn’t a flat market and I think the momentum we’ve seen in the second half of 2015 will continue this year,” he said.
Craig believes that with the lift in property sales, communities around Canberra should be feeling confident.
“Canberra has a lot to offer buyers and it’s exciting to see activity on the rise. The start of the year is traditionally a quiet period for me, but this year I have a lot of customers who are serious buyers and are in the market to buy.
“There’s a lot to be positive about - 2016 is a year to look forward to,” Craig said.