2020 in review: Agents weigh in on a property market unlike any other year

What a year it has been for all of us and, more specifically, the Canberra property market.

Local agents say the sector has demonstrated not only remarkable resilience but has turned in an impressive performance.

Jonathan Charles of Independent Woden says lows and highs have characterised the year.

“We started with the bushfires and COVID-19 quickly followed. There was definitely an air of uncertainty around that time,” he says.

“But, the property market quickly recovered and hasn’t looked back.”

Charles says many homeowners are taking the opportunity to reset their lifestyle priorities.

“I think there has been a rethink around what people need and that has prompted renovations as well as up and downsizing,” he says.

“Money has never been cheaper. When you add other government incentives it has been a recipe for a lot of activity.”

Stephen Bunday of LJ Hooker Dickson says several themes emerged in the lockdown and as restrictions eased.

“Early restrictions around home access, ironically, ensured only qualified prospects physically inspected properties,” he says.

“That really sharpened the sales process and resulted in strong offers being made sooner.”

Bunday says the number of homes coming to market tightened almost immediately, a factor that still persists.

“I think a number of people took a wait-and-see approach and have reconsidered the timing of when they might need to move,” he says.

Bunday says COVID-19 has also caused many home-owners to reconsider their space needs within a working from home option.

• WFH. COVID-19 instantly ushered in the often discussed, but only tentatively actioned concept of working from home. Space for home offices and study space for students suddenly became a priority.
• Cheap money. Interest rates circled the drain as finance became more affordable than it has ever been – paradoxically complicated by a tightening of lending rules as an outcome of the royal commission.
• Sitting tight. Buyers abound in the market place, pockets bulging with capital gains and cheap finance, but sellers have been in comparatively short supply, increasing competition and pushing up prices.

Allhomes’ top pick of the final auctions of the year:

Pearce

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This custom-built smart home is situated in a quiet cul-de-sac with peaceful, leafy views.

Yes, you heard right – a smart home. It incorporates an app which effortlessly controls most lights, air-conditioning, the garage door and outdoor cooling.

The smarts also extend to builder foresight in installing a hefty 6.6kW solar system that will deliver power and cost savings for years. Double glazing and ducted heat and cooling further increase the benefits.

The residence offers an equally powerful 227 square metres of internal living – plenty of room for a growing family.

The kitchen muscles up with super white stone benchtops and breakfast bar. Appliances include Bosch conventional and steam ovens and a five-burner gas cooktop. There’s a butler pantry with plenty of storage, a sink and an integrated dishwasher.

The master bedroom offers a spacious walk-in robe and a luxe en suite complete with under tile heating.

Further accommodation is provided through three spacious bedrooms with floor-to-ceiling wardrobes. They share a main bathroom with bath, walk-in shower and, yep, under-tile heating.

The ideal family home needs a purpose-built outdoor area. This one will not disappoint with a kitchen and built-in Weber barbecue. A second entertaining outdoor space is served up on a spotted gum timber deck, perfect for the morning coffee. The spacious rear yard has plenty of room for play equipment.

There’s a double garage with additional parking space.

Price guide: $1.4 million +

Auction: 11am, December 19

Agent: Independent Woden, Jonathan Charles 0413 909 158

Or try these:

Weetangera

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Price guide: $779,000 +

Private sale

Agent: McGrath North Canberra, Theo Koutsikamanis 0431 543 649

Kambah

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Auction: 6pm, December 22

Agent: Ray White Queanbeyan/Jerrabomberra, Brad O’Mara 0402 343 771

Hall

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Auction: 6pm, December 23

Agent: LJ Hooker Kaleen, Tim Russell 0416 087 834