Housing price growth forecast to return in Canberra: BIS Oxford Economics
House price growth in Canberra was minimal in 2017/18 and 2018/19, impacted by record unit supply.
But the Federal election in May 2019 and first home buyer incentives in New South Wales may have drawn demand into adjoining regions, according to a new report.
BIS Oxford Economics Residential Property Prospects 2019 to 2022 report said the introduction of first home buyer stamp duty exemptions in the ACT from July 1 2019, as well as post-election stability, is expected to help demand in 2019/20.
The firm said that some price growth is forecast to return.
The median house and unit prices are each forecast to rise by 10% in the three years to June 2022, although unit price rises will be weighted toward the end of the forecast period as the current supply pipeline is worked through.
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