CoreLogic data suggests cost of buying a housing in Canberra is stabilising as units decrease in value

ABC NEWS (Australia)

The cost of buying a home in Canberra appears to be stabilising. But the latest data from CoreLogic has revealed a big difference between houses and units, the latter decreasing in value with an increasing supply.

Transcript

00:00The median dwelling in Canberra will set you back about $845,000.

00:08That's only up 1.5 per cent on this time last year, while nationally prices have increased

00:14about 7 per cent over the same period.

00:17But not all Canberra homebuyers are in the same situation.

00:21The median house price is up 2.6 per cent to more than $967,000, but if you're looking

00:29for a unit, those prices have gone the other way, the median price down 2.3 per cent to

00:35about $580,000.

00:38CoreLogic's head of research, Eliza Owen, said the ACT saw a spike in unit completions

00:44from 2019 to 2023, which has helped keep downward pressure on the overall market.

00:51Nationally, Canberra is the second most expensive capital city to buy a house, behind only Sydney,

00:58and the fourth most expensive for units.

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