Despite slowing in January, agents say demand is strong in Canberra's market

As 2018 settles, real estate agents across the ACT are getting back to work with a few already recording a number of successful sales.

January is a notoriously quiet period for the Canberra property market. In January 2017 there were only 20 scheduled auctions in the ACT region and only 10 selling under the hammer. With only three auctions held over the weekend, it is likely the figure will be low again.

In spite of the slowness, there has been some movement over the first month of the year.

Luton Properties Tuggeranong director Christine Bassingthwaighte​ has already had three sales and two offers on her listings and said her office is moving along smoothly.

“Everybody thinks people leave Canberra over the holidays, but that’s not necessarily the case,” she said.

“We had one lady who wanted to see a home immediately and bought it on the same day.”

Luton agent, Christine Bassingthwaighte has already sold three homes this year. Pictured: 23/18 Captain Cook Crescent. Photo: Luton Properties Tuggeranong

One of Bassingthwaighte’s sales included 23/18 Captain Cook Crescent, Griffith. It sold on January 12 for $493,000.

The first-floor apartment was an attractive choice for buyers, with Manuka at its doorstep.

“One year I didn’t work in January and I just thought it was a waste,” said Bassingthwaighte.

McGrath Belconnen and Gungahlin sales agent Mick Barlow recorded one of 2018’s first sales for the ACT region at 3/62 Torrens Street.

The ideally positioned Braddon apartment sold for $410,000 on January 3.

“There was a strong demand for it and we were able to attract a buyer over the Christmas period which you don’t always get to do,” said Barlow.

“The buyer didn’t want to risk losing it in the new year so wanted to lock it in.”

The buyer didn’t want to risk losing an apartment in thi Braddon complex. Pictured: 3/62 Torrens Street. Photo: McGrath Estate Agents Gungahlin

A suburb record has even been broken with home.byholly director Holly Komorowski selling Watson home 19 Simpson Street for $1,570,000.

The sale surpasses the Watson record by close to $400,000.

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Due to the holiday season, January is typically labelled as a quiet period in the nation’s capital with agents and buyers alike taking advantage of the warm weather. It is generally accepted the property year finishes just before Christmas and starts back up after Australia Day.

Mates Rates Real Estate Australia director James Barnsley was the only recorded agent in the region to achieve sales in the week between Christmas and the New Year.

The Queanbeyan-based agent sold two properties on December 28. These included 22 Phillipson Crescent, Calwell for $520,000 and 905/17 Dooring Street, Braddon for $495,000.

905/17 Dooring St was one of two properties to sell in the week between Christmas and the New Year. Photo: Mates Rates Real Estate Australia

Barnsley attributed his sales success to being one of the only agents to pick up their phone during the period.

“Real estate is not a nine-to-five job and you’ve got to be there and answer your phone,” he said.

With the Canberra market recording immense growth in 2017 that doesn’t look set to slow, agents across the region are expecting 2018 to be a big one.

“After all these years I thought it was one of the best springs running into Christmas that we’ve had for some time and I’m really hoping that momentum comes into 2018,” said Bassingthwaighte.

“My impression so far is demand is very strong, particularly for this time of the year. It’s not a very large sample size but there appears to be a lot of buyers out there,” added Barlow.