Queanbeyan makes top 20 suburbs with likelihood of property price rises - Well Money reports

The online home loan lender collated figures from the property research consultancy site Suburbtrends in the quarterly Well Money Green Shoots Report.

The paper highlights the top 20 suburbs in NSW that could have property prices rise further, and have seen a decrease in time on the market and inventory levels in a three period to July, 2022.

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Inventory levels refer to the time it takes for properties to sell in a location at a particular rate with no more places being added for sale.

"In every one of these suburbs, inventory levels and days on market have fallen over the past three months, which means conditions have moved in favour of sellers," said Well Money CEO Scott Spencer.

"As a result, vendors have increased asking prices in most of the suburbs, despite the fact the market is cooling in many parts of New South Wales."

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Units in Queanbeyan are ranked 17^th in the report with a median asking price of $406,850 compared with $386,250 in April, 2022.

In this period, units had an average time of 32 days on the market compared to 34 days three months prior.

Inventory levels dropped from 3.8 months to two months in the same period.

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For houses, inventory levels dropped by almost 50 per cent from 3.3 months to 1.7 months and went from 27 to 25 days on the market.

Median asking prices went from $840,000 in April to $894,400 in July.

Houses in Queanbeyan were ranked 19^th.

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