00:00History tells us a new year brings new Canberrans.
00:06That's when APS workforce start to come in, as well as Defence,
00:10and they seem to prefer the main city centres of the inner south, the inner north,
00:14and really come in to try and grab a property there.
00:17Bureaucratic turnover means Q1 is the peak time for rentals, with prices to match.
00:23Generally we'll see an extra $30 to $50 a week per property, between January and early March.
00:29In an economy where the cost of everything is skyrocketing,
00:32Canberra's rental market appears to remain grounded.
00:35Rents across the capital have increased by 2.6% over the last 12 months,
00:40or around $20 a week, behind CPI and below the national rental increase of 4%.
00:46Canberra's house rental prices went up by 3.3%, but units only went up by 1%.
00:52This is probably a factor of more unit supply coming into the marketplace.
00:56It's a really good example of how more supply can help to keep a lid on both price growth and rental growth.
01:04As always with real estate, it's about location, location, location.
01:08Belconnen and Western Creek are both up about 4.5%.
01:14At the other end of the spectrum, you've got the unit markets of Gungahlin,
01:18which has seen rents actually slip a little bit lower, down 0.4%.
01:21And with more supply comes more choice.
01:24Generally, tenants are a lot pickier. They know what they want, they know where they want,
01:27and they'll know how much they're prepared to pay.
01:29One cost of living measure that appears stable, for now.
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