The 25-year old trainee valuer is a success story at saving and an example for young, first-home buyers.

"I decided to bite the bullet there and do the smart, financial thing instead of the easy and enjoyable thing for a little while to make it happen," he says.

And the pay-off is just around the corner.

He put down the required 5 per cent, with the rest of the $275,000 purchase price deferred until settlement.

And the exciting day when he moves in will be next month - or as early as next week.

"Obviously one of the advantages of buying off the plan was to lock the price in," he says.

"[The deposit] was not too big a commitment to start with but you have to be diligent and make sure you save properly. I moved back in with Mum and Dad which makes saving much easier.

"The unit is not very big but it'll be big enough just for me. I'll have to expand out of it one day but for the time being it's all I need."

While Mr Aungles has successfully negotiated a home purchase, many others are finding it hard.

Canberra is the most affordable jurisdiction in Australia to buy a home, with the highest disposable income per household in the nation.

However, the ACT has a higher entry point to become a home owner than most other capital cities.

Figures released on Tuesday show Canberra recorded the second highest jump in residential property values in the March quarter.

Interest rates are at a historic low but the first home owners scheme no long applies to the purchase of established properties and will be reduced during the next two years.

In Canberra, good houses are selling well whereas Sydney and Melbourne appear to be in the grip of a housing bubble.

The Housing Industry Association and the Real Estate Institute are both concerned at the pace of land release.