Looking to buy a house in Canberra? Well, you’d better get in quick!
A new report from the REA Group has found houses listed for sale within the ACT last month were being snapped up in just 25 days.
That’s compared to the national average of 48 days.
Economist, Anne Flaherty said the Territory recorded the fastest sale times of any State or Territory in the country.
“Properties in Canberra have never sold faster, on average they’re spending less than three weeks online whereas the average across Australia was seven weeks.”
According to Ms Flaherty, current indicators also show no sign of this trend slowing down anytime soon.
“The reason for that is interests rates are so low, it’s really affordable to buy and that’s also going to support jobs growth and demand for property in Canberra.”
Nationally, the time a house spent of the market before being sold continues to fall with last month’s 48 day average down from 71 days in June 2020.