07 Jun Autumn Market Wrap Up…
Welcome to our Winter Market Insights…
May saw a strong finish to Autumn for our 9 Canberra Wide Offices. Our hardworking sales team exchanged contracts on 133 properties. Our property prices have ranged from $272,500 for a 1 bedroom older style brick unit in Red Hill to over $1.6 million for a spacious 5 bedroom family home in its original condition on a large (1297m2) block, once again in Red Hill.
During May Luton conducted 58 auctions with 37 of these properties selling prior to or on Auction day at a clearance rate of 64%. Bidders came out in force with an average of 3.56 bidders registered for each of these auctions.
Agents are reporting that appraisal levels have eased during May which would suggest that supply will tighten during the Winter months. However, this limited supply combined with record low interest rates and strong buyer confidence in the Canberra market place creates an ideal window of opportunity for sellers to maximise the sale price of their property.
Interestingly many of our record prices, over 200 to date, have been set during the winter months.
If you are interested in finding out the new market value of your property in today’s marketplace or would like some tips regarding how to present your property to the market, now would be a great time to contact me.
I hope you enjoy a great start to winter.