Incata Posted July 28, 2012 Share Posted July 28, 2012 Hello What is happening with the property market in Canberra at the moment? Is it rising or falling or just static? I'm trying to follow any articles I can online, but am finding it particularly hard with real estate agents as so many properties seem to be going for auction - making it difficult to tell what is happening with the market and how long properties are on for before selling. It seems that many more properties go up for auction than over in the UK. Is this just the sites I am looking at, or have other people found this to be the case? Many thanks Carolyn Link to comment Share on other sites More sharing options...
thechollys Posted July 28, 2012 Share Posted July 28, 2012 Hi We're in a rental at the moment but recently started to look at the market for buying next year. To be honest we're looking in the Weston Creek/Woden Valley areas only so I can't speak for Canberra as a whole. We're currently in Chapman and a few properties here have been on the market since April. One we saw we thought would sell easily but it didn't and they've now taken it off the market. There are a few we've seen which are up for auction in August so we're going to go along to see how much they go for. I have heard that there are many which are not selling because they are not reaching their reserve price. When we've viewed properties we've asked the agents opinion on the effect of the new housing in Molonglo on the market. They are all of the view that prices will increase. However, we are sceptical and think that's estate agent "optimism". Will keep you posted on sale prices at auction. When are you looking at moving to Canberra? Hope this helps. Link to comment Share on other sites More sharing options...
sunniecat Posted July 29, 2012 Share Posted July 29, 2012 Hi We're in a rental at the moment but recently started to look at the market for buying next year. To be honest we're looking in the Weston Creek/Woden Valley areas only so I can't speak for Canberra as a whole. We're currently in Chapman and a few properties here have been on the market since April. One we saw we thought would sell easily but it didn't and they've now taken it off the market. There are a few we've seen which are up for auction in August so we're going to go along to see how much they go for. I have heard that there are many which are not selling because they are not reaching their reserve price. When we've viewed properties we've asked the agents opinion on the effect of the new housing in Molonglo on the market. They are all of the view that prices will increase. However, we are sceptical and think that's estate agent "optimism". Will keep you posted on sale prices at auction. When are you looking at moving to Canberra? Hope this helps. Hey, we're just starting to look to buy next year as well, also in Woden/Weston Creek... which estate agents have you been talking to? Are there any you'd recommend? Any more tips/thoughts that would be helpful? We've never bought a house before so would appreciate any thoughts! Cheers. Link to comment Share on other sites More sharing options...
Slean Wolfhead Posted July 29, 2012 Share Posted July 29, 2012 Hi we've asked the agents opinion on the effect of the new housing in Molonglo on the market. They are all of the view that prices will increase. However, we are sceptical and think that's estate agent "optimism". Will keep you posted on sale prices at auction. Hope this helps. They're great aren't they..... This is a decent blog, also details exactly how many properties have been sold or passed at auction, then compares it to the estate agents current spiel in the press each week. Often bears little correllation to what's actually happening! http://www.canberrahouseprices.com/ Link to comment Share on other sites More sharing options...
thechollys Posted July 29, 2012 Share Posted July 29, 2012 Hey, we're just starting to look to buy next year as well, also in Woden/Weston Creek... which estate agents have you been talking to? Are there any you'd recommend? Any more tips/thoughts that would be helpful? We've never bought a house before so would appreciate any thoughts! Cheers. It's different from the UK. If you pitch up at the agents they just tell you to register online. They're closed Saturdays because that's when they have open houses for viewing and the auctions. If you go to domain.com.au you can register there for the type of property and areas you're looking at. Although I do find it's a bit hit and miss with e-mail notifications. You should pick up Canberra weekly, it's free and I think it comes out on Thursdays. You can pick it up near supermarkets in the shopping malls. It has all properties in there. We also pick up The Canberra Times on a Saturday which has a property supplement. Only thing with that is you need to pick it up early because it has the viewing times for properties on that day. Hope this helps. Link to comment Share on other sites More sharing options...
Incata Posted July 29, 2012 Author Share Posted July 29, 2012 Hi We're in a rental at the moment but recently started to look at the market for buying next year. To be honest we're looking in the Weston Creek/Woden Valley areas only so I can't speak for Canberra as a whole. We're currently in Chapman and a few properties here have been on the market since April. One we saw we thought would sell easily but it didn't and they've now taken it off the market. There are a few we've seen which are up for auction in August so we're going to go along to see how much they go for. I have heard that there are many which are not selling because they are not reaching their reserve price. When we've viewed properties we've asked the agents opinion on the effect of the new housing in Molonglo on the market. They are all of the view that prices will increase. However, we are sceptical and think that's estate agent "optimism". Will keep you posted on sale prices at auction. When are you looking at moving to Canberra? Hope this helps. Hiya We are looking to move out November/December time, depending on when my husband is allowed to leave his current role (which we should find out next week). He is in the Armed Forces and they have to give 12 months notice, but we are trying to get away with 5 so we can be out by Christmas. We'd prefer to be a bit further out of town (I'm a country girl born and bred) and don't like being in the city. I get a little claustrophobic if I can't see lots of greenery and open spaces. We have no idea about areas at the moment - although the hubbies job offer starts in the Weston Creek area for the first 12 months. We thought we would wait and have a look when we get there as with two toddlers we need to make sure it is suitable and have a look at the local schools before buying anything. My son also wants a pet kangaroo which has provoked a few interesting conversations! I'd really like to hear your views once you've been to the auctions. Thanks Carolyn Link to comment Share on other sites More sharing options...
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