Spring has returned with a bounce in the market, but buyers are being more cautious in their approach to prices, according to local agents.
Dominic Sisa of Independent Woden says buyer numbers going through homes have been strong, but the current economy has them doing their sums.
“People still want to buy, but they are certainly having conversations around how to meet a price expectation on a property of interest,” he says.
“There’s no doubt tighter bank lending criteria, the prospect of further rate increases and inflationary pressures are factors in their decision-making.”
Sisa says there has been a notable interest in detached homes with more bedrooms and flexible floor plans.
“There’s demand for four to five, even six-bedroom homes – I think that’s a reflection of needing spaces for more options like work-from-home,” he says.
Gillian Thorn of Blackshaw Manuka says buyers have recognised the market has changed.
“They know it is not the one that characterised the COVID period where prices reached new heights,” she says.
“Buyers are still around in similar numbers, but they are being more cautious around prices, driven by interest rate rises and a tighter bank lending environment.”
Thorn says 26 groups went through the Phillip property over one inspection, evidence of that buyer buoyancy.
“We’re seeing a typical (pre-COVID) spring bounce in buyer numbers. The warmer weather brings people out, often wanting settlement before Christmas and children enrolled into preferred schools.”
This Waramanga home has been renovated and extended into a modern classic that provides for the needs of a growing family.
The four-bedroom-plus-study residence sits on an elevated 694 square metres of landscaped grounds and offers around 181 square metres of living.
North-facing orientation draws in a flood of natural light through floor-to-ceiling windows. Blackbutt timber flooring highlights the living area and hallway. Comfort is delivered through double-glazed windows and doors. There’s ducted reverse-cycle heating and cooling.
The modern kitchen offers generous bench space, highlighted by custom joinery. Home chefs will appreciate the range of quality Bosch appliances, including an induction cooktop, oven, built-in microwave and dishwasher.
The quiet zone holds three spacious bedrooms, each with built-ins. The parent’s retreat includes a generous walk-in wardrobe and a large en suite. A study could also provide an option as a home theatre space.
The al fresco area is highlighted by a silvertop ash timber deck that overlooks a grassed play zone. A secluded paved area is a great site for a fire pit. Other inclusions are a five-kilowatt solar panel system and a 3000-litre water tank. There’s single garage accommodation and a further carport.
The home is a short walk from the Waramanga Shops and trails leading to Mount Taylor. It’s close to both the Cooleman Court and the Woden Town Centre – and there’s a great selection of local schools.
Price guide: $1.3 million+
Auction: 1pm, October 8
Agent: Independent Woden, Dominic Sisa 0498 636 232
Price guide: $1.8 million+
Private sale
Agent: Solely Properties, Andrew Thorpe 0402 017 912
Price guide: $1.35 million+
Private sale
Agent: Civium Property Group – Residential, Josh Finnigan 0431 023 199
Price guide: $710,000+
Auction: 5.30pm, October 7
Agent: Blackshaw Manuka, Gillian Thorn 0416 017 072