What to expect from the Canberra property market this winter

The mercury dipped below zero this week – an icy reminder that autumn is coming to a close. But despite the sub-zero temperatures, the Canberra property market is showing no signs of cooling down for winter.

It’s a bit of an urban myth in the nation’s capital that the real estate market hibernates during the cooler months. Though there are fewer homes on the market, those who sell during winter find there are plenty of interested buyers looking.

According to Peter Blackshaw Manuka agent Mario Sanfrancesco, winter can be a great time to sell.

“There are many ingredients that make up an outstanding sale result for the seller,” Sanfrancesco says.

“One is supply and demand, so if you’re marketing a property through a period where there is less competition, there is a likelihood the end sale price may be stronger.”

In 2015, the spring season reigned supreme for sales commanding a seven-figure price tag. Allhomes data shows that 150 homes sold for more than $1 million between September and November last year – a result driven by the high volume of property on the market.

However, the remaining million-dollar sales were fairly evenly spread throughout the course of the year. Last autumn 109 homes broke the million-dollar mark, while winter drew a comparable 95 million-dollar sales.

Harcourts Kingston/Manuka director Rhys Summergreene says there are fewer people coming through open homes and more people making private appointments during the frosty season. Those who brave the cold on a winter morning tend to be the more serious buyers.

“Traditionally, winter has been perceived to be not as good as spring, but as a seller, I would much rather sell in a market with less competition and more qualified buyers,” Summergreene says.

This year there are a couple of other factors at play as we move towards winter.

On one hand, an election in the middle of the season could see some buyers and sellers proceed with caution. On the other, interest rate cuts may encourage prospective buyers out on a gloomy Saturday morning to have a look at what’s available.

Sanfrancesco says both of these announcements are likely to have an impact on the market, but so far, things are looking promising, particularly for sellers.

“The most recent interest rate cuts and talk of further cuts to come is outweighing any concern for buyers in the marketplace,” Sanfrancesco says.

“Last Saturday we sold 100 per cent of our auctions with a good depth of registered buyers on all of those auctions.”

Luton Properties Manuka agent Greg Hedger says the impact of rate cuts and the upcoming election have “offset each other”.

Despite the fact that this isn’t the typical winter, the traditional tips for sellers remain – do your research, find an agent that specialises in your sector of the market, and pay close attention to the all-important presentation.

Some of Canberra’s best homes have been built for the cold and it’s a good opportunity for sellers to highlight these features. Perhaps it’s the northerly orientation, an ambient open fireplace or a ducted heating system that makes your home so cosy – these are the features that could help sell your home in winter.

“Winter is a bit more laid-back,” Hedger says.

“People tend to spend a bit more time inside and they love walking into a home and seeing a lovely crackling fire.”

Expert tips for the coming season

• Create an impression – Peter Blackshaw’s Mario Sanfrancesco says presentation is always paramount. In winter you’ll want prospective buyers to envision curling up and relaxing in their new home. A professional stylist can add all those finishing touches.
• Turn up the heat – The heater should be on for at least 30 minutes prior to an open home, Harcourts’ Rhys Summergreene says. “If you have a fireplace, make sure it is roaring,” he says. “There is nothing worse than having buyers freezing and wanting to leave an open home early.”
• The price is right – Luton’s Greg Hedger says having your home priced correctly is important for attracting the right buyers. Be mindful of comparable recent sales in your suburb.
• Do your homework – This goes for both buyers and sellers. “Remember to check the Allhomes section of the paper,” Summergreene says. “It’s a good way to get away from becoming a ‘postcode buyer’. Having a selection of property not organised into type or suburb can also give you a better understanding of the current market and you may even find the house of your dreams on the other side of the lake!”

Curl up and relax

1136 Old Cooma Road, Googong
$850,000+

It’s easy to imagine curling up in front of the fire at this classic country home. It is nestled into a gentle rise on a 10-hectare parcel, providing a rural lifestyle within easy reach of the city.

Raked ceilings, solid Tasmanian oak flooring and a wood fireplace create warmth and ambience, while a flowing open-plan living area offers the perfect setting for relaxed family living.

The country-style timber kitchen includes ample storage and bench space, as well as stainless steel appliances. Entertainers will also love the wraparound verandah that boasts breathtaking views across the property.

The home includes three bedrooms as well as a separate, self-contained flat. All bedrooms include built-in wardrobes and the master suite has an en suite bathroom and timber french doors.

With a large living area, kitchenette, wood fireplace, bathroom and generous bedroom, the flat would be perfect for extended family, older children or rental opportunities.

Infrastructure includes a large two-bay shed, chook pen, dam, round yard, 100,000-litre concrete tank, bore and dog run.

It is conveniently located just nine kilometres from Queanbeyan, 25 kilometres from the Canberra CBD and just minutes from the new Googong township.

No. 1136 Old Cooma Road, Googong, will be auctioned at 11am on Saturday, June 11, onsite. Phone Luton Properties Manuka agents Greg Hedger and Samantha Granter on 0427 214 337 or 0402 507 902. Inspect: Saturday, 11.45am-12.30pm.