Market Wrap - April 2016
29 April 2016 Symon Badenoch
We had some strong sales results this month especially with established houses. For example our team SOLD 18 Paterson Street Ainslie at auction which had 80 groups inspect it during the marketing campaign with 5 registered bidders on auction day. The lucky buyer swooped in at the end with some strong bidding and purchased the property for $912,000. Heading over to the inner South, we then sold 58 Caley Crescent Narrabundah for $890,000 with 10 registered bidders and some heated bidding which saw the property selling well above the reserve price. Each of these properties were very different in style and location but still attracted the same buyers indicating that buyers are now looking in multiple regions rather than being suburb specific.
We have had a strong month alongside the auctions with excellent results Canberra wide. Buyers are continuing to be aggressive with their buying and coming in with strong offers on houses in established suburbs. Apartments and Townhosues are still showing good results however we are witnessing longer marketing campaigns compared to houses.
As we head into the winter season, we would usually see the market slow down. However, I anticipate the ‘hot’ market will continue on in the colder months as demand will continue on its high, with supply low. Because of this, winter is a great time to sell with buyers wanting to avoid the spring rush. If you are thinking of selling, or have family or friends that want to sell, please feel free to contact me to discuss.