What will the winter season do to Canberra's property market?

It’s goodbye autumn and hello winter and, suddenly, we’re into that time of year when the property market goes into hibernation – or does it?

Not really, but there are different levels of enthusiasm among sellers and buyers around seasonal opportunities, according to local agents.

Bree Prince of HIVE Property says listings going into winter are down on previous years and days on the market have extended.

“Many potential sellers have been holding off because of concerns around the state of the economy,” she says.

“And there’s also a common belief that winter is not the best time to sell a home, with vendors often looking to hold off until spring.”

Prince says, however, says the reverse can be true.

“Fewer homes on the winter market equal less vendor competition, but it certainly raises the stakes among buyers,” she says.

“It can increase the likelihood of a strong sales price.”

Mario Sanfrancesco of Blackshaw Manuka agrees the overarching market conditions going into winter point to a “tightness” on the supply side – especially in the older, more established suburbs.

“I don’t see that changing to any great degree over the next three months, but there is still a strong pool of committed buyers,” he says.

“They are considering options more cautiously and may return to a home they inspected earlier before eventually deciding on it after reviewing other contenders.”

Sanfrancesco also recommends winter sales to beat a highly likely rush to market in spring.

• Sellers: Typically, fewer homes come to market in winter and uncertain economic conditions have added to tighter supply. Sellers tend to believe homes present better and attract more attention in the warmer months. 
• Buyers: Buyers are still active throughout the winter months and homes that come to market are likely to benefit from greater buyer competition. Fewer homes help keep upward pressure on prices.
• Agents: Market conditions have softened, particularly around supply, and consumer sentiment is also alert to the broader economic outlook. That said, winter can be a good time to sell as there’s less competition.

Check out our top picks for sale:

Forrest

View property

Price guide: $2.1 million

Private sale

Agent: HIVE Property, Bree Prince 0450 566 150

Wright

View property

Price guide: $1.37 million

Private sale

Agent: HIVE Property, Katrice Velnaar 0411 449 071

Jerrabomberra

View property

Price guide: $1.949 million-$2.149 million

Private sale

Agent: Ian McNamee & Partners Queanbeyan/Jerrabomberra/Canberra, Michael Edwards 0415 977 448

Kingston

View property

Auction: Noon, June 10

Agent: PURNELL, Nick Purnell 0401 043 142