The idea of buying a quality home at the price of $85,000 is inconceivable nowadays, but on this day in 1990, that was the kind of bargain one could find in Canberra's real estate market.
The chief executive of the ACT division of the Housing Association, Mike Crowe, said the best time to buy in Canberra was "right now," and that Canberra was "the best place in Australia to buy a house".
"The door for home ownership has never been open wider than it is today. We have the best land on offer in 10 years," he said.
According to Mr Crowe, it was the perfect time for young couples to assess whether they were in a position to buy their first home.
"If they are on a decent income and prepared to work, they can own their own home. It's as good as you will ever see," he said.
While homes in Canberra could be bought for $85,000, that was the price of a standard residential block in Sydney.
To secure a bargain, buyers had to act fast before the increasing prices in Sydney forced investors to look interstate for purchases and capitalise on Canberra's supply of cheap houses.
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