Canberra market: Why some agents believe now is a good time to sell

Canberra’s auction market may be slowing down but local agents are forecasting a busier spring season amid a rise in activity from owners preparing to list their properties for sale in the next few months.

Canberry Properties’ Mathew Kocic said there had been fewer properties listed this winter compared to the same time last year – a trend also noted by buyers.

“After the strong growth during COVID, the market is a lot quieter,” he said.

“The housing market continues to perform well with some strong results being achieved but the apartment market is the slowest moving at the moment.

“The unpredictable nature of interest rates has had an impact, but [across the board] we’re still seeing some good results.”

Similarly, Obi Shadmaan from The Property Collective has noticed more buyers waiting for the warmer months to list their homes.

“We’re witnessing fewer listings, which is generally typical at this time of the year, but indicators are suggesting a stronger spring season,” he said.

“Now is actually a good time to sell, as there’s not a lot of competition and fewer options for buyers.”

Canberra’s clearance rate fell to 50 per cent last weekend, down from 71 per cent at the same time last year. However, in the previous few weeks, the rate reached levels close to 70 per cent – higher than the average in 2023.

As sellers gear up for a more active spring market, agents are anticipating the seasonal change will bring more stability and opportunities to Canberra’s real estate market.