Market Wrap - May 2015
29 May 2015 Symon Badenoch
With Winter now here, we are witnessing a large decrease in the supply of properties for sale in the ACT.
We are in regular contact with buyers who are desperate to find a new home but are frustrated with the amount of properties available.
Buyers are hungry to buy houses due to low interest rates. Established properties in the Belconnen, Inner North and Inner South areas are becoming more valuable as buyers look for bigger blocks closer to the main Town Centres. The ACT Government will no longer be releasing large blocks in the new suburbs, therefore buyers are searching for homes with big enough yards for their growing family, pets and space for the kids to play.
We have also noticed an increase of buyers from interstate purchasing in Canberra due to the overheated Sydney market.
As we approach Winter the importance of heating in rental properties is becoming a huge issue to ensure a quick turnover of your investment property. Tenants are now at a point that heating is an essential feature needed in a rental property when choosing their next home.
The rental market is still flat, however we are finding that modern properties at reasonable prices are renting well. If owners are meeting market expectations on rent, we are finding their property will have less vacancy.
At Badenoch Real Estate we are not just about leasing, managing and selling your property. We are also here to help our clients with any advice they may need with their investment properties as well as helping them purchase their next home. Please feel free to contact us if you would like to meet in person and go through any of your real estate needs.