Canberra’s auction market set for a hot winter

Canberra’s housing market is keeping the winter chill at bay, with agents predicting an unusually active auction season.

Jonny Warren of Jonny Warren Properties forecasts a busy winter season, particularly in the lower to mid-range price bracket.

“We have sold a number of properties this week and all were around the $750,000 price point,” he said.

“All but one sold to a first-home buyer taking advantage of government concessions.

“We’re going to see more properties for sale. One building inspection company I know reported some 600 inspections in May alone.”

Recent sales through Jonny Warren Properties include a three-bedroom house at 13 Feint Street, Condor, which sold for $702,000, and a three-bedroom property at 97 Ross Road, Crestwood, which sold for $780,000.

View property

Cream Residential’s Jack Wilson also reported more active winter market conditions, particularly for sought-after suburbs, such as Hughes.

Wilson noted that Hughes has been somewhat underrated recently, but more buyers appear to have identified its advantages, and demand is growing.

“The suburb borders the coveted Inner South locations of Deakin, Garran and Curtin, while the highly regarded local school has become a major drawcard,” Wilson said.

Cream Residential recently sold a two-bedroom duplex at 39 Groom Street for $817,000 before auction.

View property

Wilson added that the property was sold to a second-home buyer drawn to the quality of the location and the opportunity to renovate, with strong interest also coming from first-home buyers.

The median house price for Hughes currently sits at $1.4 million, which has jumped 1.1 per cent over the past year in line with Canberra’s overall median price growth.