When it comes to economic growth, the average income in Canberra is the highest, compared to other states across Australia. Moreover, for the last 12 months or so, the property market in Canberra has been a steady achiever. So the question could well be, what’s the next big thing?

Recent news suggested that the property sector in Canberra has recorded the most expensive place to rent a house and also the only capital city to continue price growth for the last quarter ending December 2018.

The high average income that Canberrans enjoy will keep its property market buoyant despite the slowdown that is affecting other cities. Experts have predicted, that the Bush Capital will be joining the Tasmanian city, Hobart, in recording the growth in property prices in 2019.

There has been a decline in house stock in the city, as comparatively, apartments are in greater supply. It’s a piece of good news to investors in property and homeowners. House rents have been steadily rising for the last few years, and the median house prices are slated to increase. The demand for houses and retirement living has outstripped its supply. In 2018, the average price of homes in the Australian capital was $700,000+ still lower than those of Sydney and Melbourne.

Newer dwelling completions peaked in 2018, and will only continue in 2019 and 2020, but the well-paid population can still afford to invest in property. Although Canberra doesn’t have the mega-rich crowd, owing to its highest recorded wages and average income, the lifestyle in the bush capital is getting better every year.

Predictions suggest we will be expecting a country-wide slowdown in the property sector in 2019, but Canberra will still lead in the property market.

So to answer the question, the next big thing is what we make of it!