Agent view: Canberra market strong for sellers

For the month of May, Canberra property sales figures across all dwellings achieved a growth of 2.5 per cent (Corelogic).

Last weekend, auction results in Canberra were at 69 per cent (APM) which indicates the current market is strong for sellers, particularly those who own properties in tightly held areas.

With a good strategy and marketing plan in place, the astute home owner is being rewarded with a handsome return on investment.

Mid-May we took 44 Campbell Street, Ainslie, to auction and had a huge response from people who made a connection to this new modern style of property.

There were a total of 234 inspections over the four-week open home campaign, 12 registered bidders and the property sold for $1,565,000.

This case study proves that despite Canberra being in winter, demand is high for properties, particularly the larger ones which appeal to home shoppers as these are in short supply and offer growing families fresh modern living opportunities.

Lenders are offering more attractive interest rates for investors. In late May, Westpac changed its requirements from a 20 per cent deposit from investors to a 10 per cent deposit.

Peter Baum is a residential sales agent at PRD Nationwide Canberra.