Autumn's the season of colour and confidence in Canberra's property market

It’s been a great start to the year for buyers and sellers, with high auction clearance rates, strong sales prices and a good turnout at open homes – and autumn hasn’t even begun.

One of the year’s peak sales seasons will start next week off the back of the best year of property we’ve seen since the global financial crisis.

Domain senior economist Andrew Wilson says there are plenty of reasons for both buyers and sellers to be looking forward to the season.

“Autumn is not as busy as spring but it’s certainly a significant selling season,” Dr Wilson says.

“Last year was the best year Canberra has had for a number of years. The roller-coaster effect we saw from a number of tight budgets finished last year when a better-received budget helped to restore confidence in the Canberra market.

“It was a strong year, but we’re still in catch-up mode and buyers are taking advantage on what is still pretty good value. Prices have only started growing over the past 12 months and the key will be how this year’s budget pans out for the market.”

Peter Blackshaw Manuka agent Mario Sanfrancesco says if the current level of activity is anything to go by, he would expect a strong autumn selling season.

“We have recently broken the residential record of Narrabundah, as well as selling five properties for well over $1 million over the past 10 days,” he says.

Mr Sanfrancesco says while spring is often viewed as the best time to sell, there are lots of good reasons to sell in the autumn months.

“The benefit of selling in autumn is that Canberra, being the garden city, has spectacular autumn colours in the streetscapes, gardens and parks,” Mr Sanfrancesco says.

“This makes it a glorious time of year – in fact, I’d suggest homes and gardens look more spectacular in autumn than in spring.”

LJ Hooker Belconnen agent Cameron Colquhoun agrees.

“Weather-wise it’s a very stable time of the year,” Mr Colquhoun says.

“There are lots of lovely autumn colours complemented by lovely fresh sunny days. In my opinion, it’s the best season for enjoying the outdoors in Canberra.”

Allhomes data analyst Nicola Powell says 1890 new homes listed on the market during the January quarter, a rise of 19.7 per cent from the same period of 2015. Demand has remained steady with 1683 buyers looking for homes. She says she expects to see buyer demand lift over the coming months, with activity gaining momentum as the year unfolds.

“If 2015 is anything to go by … we saw a housing market revival, which should continue into 2016. There is also increased buyer confidence given the fact that interest rates are so low. It’s driving affordability and all of those factors will continue to affect the market,” Ms Powell says.

Real Estate Institute ACT president Frank Pompeani says recent weeks have seen a significant increase in inquiries, with buyers hoping to be in their new homes by winter.

“Across the board, there’s certainly been more numbers at open homes, and the auction clearance rates are at 70 per cent,” Mr Pompeani says.

“We see a bright future for Canberra over 2016 and house prices may trickle up 3 to 5 per cent this year.”

Tips for buyers and sellers

• Buyers: Peter Blackshaw Manuka’s Mario Sanfrancesco advises buyers to do their research and seek advice from industry professionals. “They are here to help,” he says. Mr Sanfrancesco says buyers should make a list of the “non-negotiables” – the features that are an absolute must. Decide up front what is most important to you and what you are looking for in a property.  Consider your budget. Quality properties can often cost a little more than what you might first anticipate, he says.

• Sellers: Pay close attention to how your home presents from the street. “If you can get people through the door, the features will hopefully sell themselves to buyers,” LJ Hooker Belconnen’s Cameron Colquhoun says. Mr Colquhoun suggests consulting an agent to get advice on what needs to be done around the house to attract buyers. Cosmetic details such as a fresh coat of paint and new carpets can make a huge difference, Mr Colquhoun says.

Major overhaul planned

Anna Washington, above, will be taking full advantage of the busy season with an auction set for April 30.

Before her Farrer home hits the market, she plans to go over the home with a fine-toothed comb and have it picture perfect for prospective buyers.

“Once we’ve moved out we’ll be getting the painters in and having all the minor repairs taken care of,” Anna says.

“We’re going to give it a big overhaul so when the next family comes in it’s warm, welcoming and ready to go.”

Anna has loved living at the Farrer property for almost 10 years. It was perfectly positioned for the young family, with Farrer Primary School an easy walking distance and buses from the street to the local secondary schools.

“When you’re a working parent it’s just a godsend,” Anna says.

The four-bedroom home at 12 Dookie Street is filled with character and features a large open-plan living area, in addition to a second lounge room.

“It’s a great family home and has everything a family needs,” Anna says.

“It’s close to Farrer Ridge and within walking distance to the shops.”

The move follows the death of Anna’s husband last year. She and her three teenage daughters will be renting while they prepare the property for sale and are looking for a new home in Chifley. The home will be sold through Luton Properties Woden agent Anthony McCormack.

Light and lovely in Yarralumla

34 Hutchins Street, Yarralumla
$1.4-$1.5 million

Set under the canopy of 80-year-old American oaks, Hutchins Street is alive with colour in autumn. It’s the perfect time to check out this new listing in Yarralumla.

This elegant three-bedroom home was designed to maximise natural light through the north and east-facing windows. High ceilings and open-plan living spaces create a sense of space and ambience.

The kitchen is superbly appointed with ample Caesarstone benchtops, an island bench and Bosch appliances. An original leadlight window salvaged from a federation home in Sydney lends a beautiful character to the room.

Spotted gum timber floors flow from the kitchen to the dining room and open-plan living area. A covered al fresco area flows from this space, creating a great environment for entertaining.

The main suite is also on the ground floor with a walk-in wardrobe and dual-basin en suite with heated floor. It also has its own courtyard.

You’ll find the other two bedrooms upstairs with a two-way bathroom and a balcony.

The Royal Canberra Golf Club, Lake Burley Griffin and some of Canberra’s top restaurants and cafes are among the local attractions.

Number 34 Hutchins Street will be auctioned on March 19 at 10am, onsite. Phone LJ Hooker Belconnen agent Cameron Colquhoun and Lyn Chambers on 0402 842 291 or 0418 661 980. Inspect: Saturday, 1.30pm-2pm and Thursday, 5.30-6pm. EER: 3.0