18 Apr March 2017 Market Update
The Canberra market place continued to move at a steady pace during March with Luton’s 9 Canberra wide offices exchanging contracts on 174 properties. A 17 year company record for the month of March.
Prices ranged from $80,000 for a 47ha bush block in Jerangle NSW, to $2,475M for an original family home on a 1707m2 block on the high side of Schlich Street, Yarralumla.
Auction clearance rates remain very buoyant. During March Luton conducted the most auctions held by any Canberra agency. 92 properties were auctioned with 65 of these properties selling prior to or on auction day at a clearance rate of 70.6%. On average 3.48 bidders registered for each of these auctions.
Canberra wide stock levels in the established market remain tight, however many agents are reporting an increase in appraisal numbers, with many future sellers using the the Easter break to prepare their house for sale. The right preparation is essential in obtaining a premium result for the sale of your property. If you would like to discuss how best to prepare your home for sale, I would be delighted to drop by for an obligation free chat.
On a separate note, I’d also like to share with you a new and exciting event sponsored by Luton – Ignite Walk Canberra on Friday 28 April 2017. The ignite walk for Cerebral Palsy takes place around Lake Burley Griffin and Lennox Gardens, but it’s not your average lake walk… There’ll be lots of neon light installations, butterfly stilt walkers, neon jugglers, live music, food stalls, neon face painting and much more. This will be a fantastic event for a great cause and we would love to see you there!