What's in store for the Canberra and surrounding NSW regions this summer?

Rising interest rates and soaring inflation are proving to be no barriers to summer home buying, according to local agents.

Tim McGoldrick of McGoldrick Estate Agents says buyers are getting more comfortable with financial pressures.

“There’s a sense that interest rate rises and inflation may be getting close to their peaks,” he says.

“Buyers are looking for properties that might offer flexibility around price and they are looking to secure those now and think about refinancing to lower rates at some point in the future.”

McGoldrick says Berry real estate continues to be a popular choice for buyers exiting the Sydney market.

“City sellers are still leaving cashed up and looking to acquire town or lifestyle properties in Berry from the low millions to $6 million or more,” he says.

Michael Fay of Blackshaw Manuka says he believes agents are in for a busy Christmas and new year period, as well as the remainder of summer.

“It’s typically the season when Canberra sees an influx of new buyers due to postings and other relocations into the capital,” he says.

“The demand is fairly evenly spread across the dwelling types from apartments to detached family homes.”

Fay says buyers need to secure homes and that sustained demand will ensure prices remain competitive.

“Canberra is a unique marketplace that is seen as a safe haven and that’s what insulates it from the wildest of swings in the market,” he says.

• Confidence: Buyers may be getting more comfortable with an environment of increasing interest rates and soaring inflation. Agents say buyers believe these factors may be peaking and that deals can be done.
• Lifestyle: Agents say many buyers are looking to relocate from cities to country locations for increased space, a change of lifestyle and an opportunity to connect with a local community.
• Locally: Agents are optimistic about summer selling, believing the annual influx of people moving to the capital will increase the competition to acquire properties of all dwelling types – from apartments to detached family homes.

Check out our top pick of homes on the market:

Berry

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Berry is famed for its country charm, so it’s no wonder it’s packed with plenty of character homes like this family residence that delivers the highest standards in contemporary living.

The bones of this three-bedroom house date back to about 1912, but you wouldn’t know with its HIA award-winning extension and renovation. Now it sits pretty behind a white picket fence on more than 1000 square metres on the edge of the Berry township.

Charm exudes from its refreshed weatherboard facade and that sets up anticipation as to how the interior has been reinvented. It does not disappoint, thanks to cathedral ceilings and extensive glazing that draw in an abundance of natural light, and rich, dark timber flooring.

Generously sized bedrooms are located towards the front. The main features a free-standing bath under dual sash windows, separate from an open en suite with a floating blackbutt vanity. A common bathroom serves the other two bedrooms.

More light floods into the rear of the house where the hub is located along with a living room with open gas fireplace topped by an exposed brick feature. The kitchen is big, bold and white; pendant lighting, a stone island bench, premium appliances and a line-up of Vintec bar fridges make it especially appealing. Bifold doors lead to the outdoor area, which overlooks an in-deck pool with views towards Wedding Cake Mountain.

There are remote entry gates and a detached garage to the rear.

Private sale

Price guide: $3 million

Agent: McGoldrick Estate Agents, Tim McGoldrick 0414 157 794

Or try these:

Calwell

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Private sale

Price guide: $1.1 million+

Agent: Solely Properties, Ben James 0448 445 841

Hughes

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Auction: 3:30pm, December 10

Price guide: $2.25 million+

Agent: Belle Property Canberra, Dan McAlpine 0401 005 282

Dickson

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Auction: 12:30pm, December 10

Price guide: $1.45 million+

Agent: Blackshaw Manuka, Vince Qi 0410 763 974