What’s happening with Canberra’s spring auctions?

Canberra’s spring auction season may turn into a tale of two parts with a clear distinction between the high and low segments of the market.

While more properties are being listed in the lower to mid-price range, agents note they were taking longer to transact.

Blackshaw Manuka’s Mario Sanfrancesco said the upper end of the property market was exhibiting greater stability and attracting solid prices, but there was a less noticeable increase in listings coming into spring.

“We’re now operating in a more normal market, but quality, unique properties are selling better than less distinctive ones,” he said.

“High-end properties generally take a bit longer to sell, but they continue to achieve solid results.”

$1,600,000+

56 Mulgara Loop, Throsby ACT 2914

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Sanfrancesco encouraged buyers not to wait on seizing an opportunity.

“Real estate is a long-term investment and those thinking of buying may miss the boat if they wait too long,” he said.

MARQ Property’s Sam Taylor said he had noticed the market had stabilised.

“Vendors are now more aligned with realistic property values,” he said.

“Spring brings more listings and competition but houses are continuing to fetch good prices.”

Taylor pointed to an increase in apartment listings in particular, with investors looking to clear debt and make lifestyle-driven investment decisions.

$930,000

2/12 Towns Crescent, Turner ACT 2612

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Domain data shows a monthly increase in days on market for units in August but a monthly decline for houses.

As spring progresses, heightened competition is expected with unseasonably strong auction volumes. Early indications point to a modest increase in clearance rates.