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Canberra's Real Estate Prices Drop

Friday April 17, 2009

Canberra's median house rent dropped this March quarter according to an Australian survey.

The recent Australian Property Monitors survey revealed that Canberra rental prices dropped 2.4 per cent between January and March this year to $410 per week.

Australian Property Monitors senior economist Matthew Bell was not too worried: "It's only a $10 drop, it's the smallest drop you can have [in the statistics]," he told the Canberra Times.

This contrasts other Australian capital cities where there was recorded no change in the median rental prices.

However, Canberra's median rent for units rose to $400, up 1.3 per cent compared to the quarter before, which is second in Australia after Sydney with a median of $410 for units.

Canberra was the only capital city with overall decreasing rental prices in the March quarter.

If you would like more information about living in Canberra you can visit Canberra Real Estate.

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