Canberra families seeking space, value and infrastructure when buying a home

Families are on the move as the annual spring migration clicks into gear and they’re looking for more room, value for money and proximity to infrastructure and amenity.

Many are also looking to take advantage of the increased value of their existing homes to leverage themselves further up the property ladder.

Agents on both sides of the lake are now bracing themselves for a frantic lead-up to Christmas as they juggle demand and tightened supply.

Principal of Peter Blackshaw Tuggeranong, Robert Peaker, says families are making their homes in the outer south because it represents great value.

“We get people moving to the area because they’ve been priced out of Woden and can see they get much more for their money with only an extra five minutes or so drive,” he says.

“And, typically, they will find themselves in a home on a much bigger block.”

Peaker says families are usually looking for three-four bedroom homes with two bathrooms and lock-up garaging as their basic requirement.

“Demand is strong in the $500,000 to $700,000 range,” he says.

• Related: Canberra’s spring property boom begins
• Related: High clearance rates mark winter auctions
• Related: Buyer’s agents a secret weapon 

“The challenge all over Canberra is supply. There’s just not enough coming on to the market.”

Peaker says recently renovated homes that present as new are hot ticket items with families.

“They really like the idea of moving into a new home where the work has already been done, one that lets them personalise the space to their taste,” he says.

Principal of Harcourts Brindabella, Jeremy Maher, says he’s noticed a trend in families upsizing into the $1 million-plus range of home.

“I’ve never seen demand like it in the Gungahlin region for higher-end homes,” he says.

“There’s a range of reasons driving that including solid appreciation in the price of their last property and continuing low interest rates.

“You can add to that great value for money in buying established homes and Gungahlin’s infrastructure and amenity.”

Only two weeks ago, Maher set a new record in Harrison with a $1.26 million sale and that achievement might already be under threat.

He is the agent for this week’s cover property, also in Harrison, and says the Albatross Crescent home had 40 groups through in its first two home opens.

“The hot ticket item is established homes that have been refurbished and present as new and are ideally located within 10 minutes or so of the town centre,” Maher says.

Inner city, north and south, expert Holly Komorowski of home.byholly, says she’s expecting many families to be on the move over the next three months, particularly with the annual movement of public service and defence personnel in and out of Canberra.

“The inner city areas are very popular with families, particularly those who enjoy properties with more of a heritage feel and a developed sense of community,” she says.

“I see quite a range – from those with toddlers to those with young teens. There’s some who want a property that’s been renovated through to others who are prepared to roll up their sleeves on an extension project.”

Komorowski says dual occupancy opportunities that have come to market through remediated Mr Fluffy blocks were also proving popular.

“They offer entry into the area and the opportunity to build on a block with enough space, but lower ongoing maintenance,” she says.

FAMILIES ON THE MOVE

TICK THE BOXES

Most popular family home configuration: three-four bedrooms, two bathrooms, multiple living areas and a double garage.

OTHER PLUSES

Homes that have enough room to create self-contained spaces for teenagers, young adults or extended family.

NEW STUFF

Areas with new or upgraded arterial roads, schools, shops, transport and close to sporting and recreational amenities.