Agent tips on how to sell in Canberra's flatlining market

In 2018, Canberra’s detached home market remained flat while apartment prices took a hefty knock.

Latest Domain figures show median home prices effectively stalled on $738,933 while apartment prices slumped 6.1 per cent to $412,718 – their steepest drop in 15 years.

Domain has predicted a slightly brighter 4 per cent growth in home prices in 2019 with apartments recovering by 2 per cent.

Stephen Bunday of LJ Hooker Dickson says many factors are impacting the market including tighter lending, the banking royal commission and the upcoming federal election.

“Buyers and sellers will certainly factor these variables into their decisions,” he says.

“There will still be plenty of market activity, but I think buyers will be more discerning.”

Bunday says that should focus sellers on the presentation and marketing of their homes.

“It will be more competitive. Homes that are maintained, styled, professionally photographed and effectively marketed will likely grab buyer attention,” he says.

Mario Sanfrancesco of Peter Blackshaw Manuka says Canberra’s economic indicators are still sound.

“We’ve got low unemployment, high average wages and ongoing population growth,” he says.

“People are continually relocating to Canberra and that adds to demand.”

Sanfrancesco says the biggest concern is tightened bank lending practices.

“When these are eased, we will see a return of confidence,” he says.

The Manuka agent agrees effective marketing is the X factor in fostering a competitive home-buying environment.

“It’s in the detail– maintenance, presentation, styling, photography and an agent who understands the product and the market,” he says.

How to achieve the X factor

• Presentation. A more competitive selling environment means attention to detail. Ensure your home is well maintained and presented. Concentrate on kerb appeal – lawns and plants, paintwork and gutters – and declutter the interior.
• Styling. If you’ve got a good eye, go for it. If you need help, call in a professional. An investment in staging your home for sale can make all the difference.
• Agent. Your area expert is the person most likely to understand the current state of the market and be able to accurately assess where your property fits. They aim to maximise your return.

Allhomes’ top pick of homes currently for sale:

O’CONNOR

92 Macarthur Place

$799,000+

3 bedrooms, 1 bathroom, 1 car space

This two-storey, mid-century duplex is on a 593-square-metre block in a quiet, leafy O’Connor cul-de-sac, surrounded by similar architecture and established gardens.

The renovated home presents with polished timber floors, white walls and plenty of light filtering through doors and windows.

The ground floor plan includes open plan living and dining areas flowing onto the front and rear decks and landscaped gardens. Downstairs is a large kitchen, a laundry (with shower) and a separate toilet.

Upstairs, via a warm ash timber staircase, are three bedrooms and a bathroom with bath and shower. The main bedroom is warmed by morning sun and carpeted for winter months.

A large north-facing front deck is highlighted by a fishpond, surrounded by deciduous trees, while the rear deck opens onto densely planted mature gardens created by a landscape architect.

Among the many trees are silver birch, crabapple and Japanese maple along with fruit trees including apricot, mulberry, persimmon and peacharine (a peach and nectarine hybrid). Herb and vegetable beds deliver an edible garden close to the kitchen.

A separate studio with a kitchenette offers options for a home office or teenage retreat. The addition of a bathroom could make it suitable for commercial operation as an Airbnb or similar.

There is covered car parking.

The address is a short walk or bike ride to public transport, shops, parklands, wetlands, schools and universities.

Auction: 6pm, February 6

Agent: LJ Hooker Dickson, Stephen Bunday 0416 014 431