If you’re thinking of leasing your property, summer could be the prime time.
Canberra’s transient population means that the city is set to welcome a new wave of residents to the capital, whether it be university enrolments or employment in the public sector.
Home owners and buyers can take advantage of Canberra’s strong rental market and lease their properties or invest. After all, Canberra has the highest median house rents in the nation at $550 per week.
However, Steve Lowe of Agent Team Belconnen says recent changes to the tenancy act have impacted owner attitudes toward the rental market.
“They’re considering costs including land tax and ever-increasing rates along with changes to the act they view as eroding ownership rights,” he says.
“Fewer properties coming to market, particularly in the first quarter of the new year, is likely to put upward pressure on rents.
“The market is already tight. We put a five-bedroom plus pool Fadden home on the market recently at $760 per week. It finally settled at $900 per week.”
Stephen Bunday of LJ Hooker Dickson also believes there will be fierce competition to find rentals in the first quarter of the year.
“Family homes are a big-ticket item with a high priority on location, plenty of bedrooms, effective aircon and spacious outdoor entertaining areas,” he says.
“The lack of supply means we are going to see a lot of bidding with applicants trying to gazump one another.”
Bunday says another tight market could be within the one and two-bedroom apartment market with a high volume of students searching for private accommodation.
“It’s going to be a hyper-competitive rental market across the board,” he says.
- Organise. Securing a rental property is a competitive process. Prospective renters need to be highly organised and thoroughly prepare their applications. Credible and relevant references are likely to play a persuasive role.
- Focus. Needs versus wants? Refine your deal-maker list and focus on properties that closely match. Agree on a plan B that acknowledges what you are prepared to compromise to secure that lease.
- Bid. You will likely be inspecting properties with many other home seekers. A bidding war may mean you need to make an offer above and beyond the advertised price to be considered.
Allhomes’ top pick of family homes on the market for investors and live-in owners alike:
Price guide: $1.6 million +
3 bedrooms, 2 bathrooms, 2 car spaces
One truism in real estate is location. Another is: always buy the home that the developer built for himself.
This contemporary, modernist-influenced three-bedroom, two-bathroom home ticks both boxes.
It enjoys a Campbell setting within the boutique Bijou townhouse development. And no expense has been spared by the developer in delivering a home to meet his highest expectations.
This residence will delight at every turn – marble benchtops in the kitchen, parquetry floors, a stone surround fireplace in the living area – and a show-stopping outdoor entertaining zone overlooking a sparkling, heated saltwater pool.
The open-plan kitchen, dining and living zone is bathed in soft natural light drawn in through a two-storey high wall of double-glazed windows.
The stunning chef’s kitchen offers Asko appliances and Blum hardware along with a breakfast bar and custom cabinetry.
Then step onto a covered ironbark deck with an operable roof and an outdoor kitchen with a beverage fridge, a pizza oven, a barbecue, and a sink.
Back inside, a spacious main suite is complete with floor-to-ceiling tiles and a large walk-in shower, while both bathrooms and the downstairs powder room offer Astra Walker and Meir tapware and fittings.
There’s a double garage, zoned and ducted airconditioning, motorised roller blinds along with Sure Shade motorised external louvre blinds and keyless entry.
Shops and schools are nearby and you’re just 10 minutes from the CBD.
Agent: Agent Team Belconnen, Steve Lowe 0414 720 532