What's in store for the hot Canberra property market over the winter months?

Winter is coming. In fact, it’s here, but what does that mean – if anything – for the local game of homes?

Traditionally, the cooler months usher in a certain level of cocooning behaviour, with vendors and buyers often opting to sit it out until spring.

But with a market running hot in an environment of low interest rates, is a drop in the mercury a good enough reason to put business on hold?

All Homes asked a number of leading local property experts to sum up the year to date and to provide their best predictions for winter and the rest of the year.

Mario Sanfrancesco, principal of Peter Blackshaw Manuka, says the first six months of the year have been “very strong”.

“Clearance rates at auction have been very high, up to 90 per cent,” he says.

“The number of transactions have also been up and it’s been at least as good, if not better, than last year.”

Sanfrancesco says Yarralumla has been a star performer with house sales exceeding expectations and creating flow on into other segments.

“We’ve now seen townhouse sales creep into the $1.4 million bracket and dual occupancies hitting $1.83 million,” he says.

“Narrabundah has also been very strong and records can be expected to be broken in coming months.”

Sanfrancesco says despite the market buoyancy, there were signs of a tightening around lending practices.

“That’s the environment as we head into winter. We usually see a dampening of activity begin about now as people decide to sit out the winter,” he says.

“Listings are already somewhat down on last year and tighter lending may slow buyer activity.”

Stephen Bunday of LJ Hooker, Dickson, has noted other signs that indicate buyer activity may be slowing as the market heads into winter.

“It was business as usual in the inner north in the first quarter of 2017, but definitely slowed in the following three months,” he says.

“Listings are down on last year and open home attendances have been down by as much as 50 per cent.”

Bunday says the trend wasn’t uniform and activity was still high in areas such as Belconnen, Aranda, Cook and Gungahlin.

“Anything under $500,000 is still moving well, but the $800,000 and above band is showing signs of tightening in the inner north,” he says.

“Typically, people will decide to hold off on selling until spring, but it’s actually a good idea to go to market because there’s less competition and more buyers.”

On the other side of the border, Darren Bennett, of Ian McNamee and Partners, says the year began strongly, particularly in the $400,000-$500,000 band.

“Freestanding, three-bedroom homes in that price range close to the centre of town are highly sought-after,” he says.

“Jerrabomberra is very strong in the $550,000-$700,000 range.”

Bennett says first homebuyers have been active as evidenced by projects such as Elysium where all 100 apartments were quickly sold.

“We’re also seeing a lot of interest from investors in Wollongong and Sydney who are attracted to returns of 5.5 per cent,” he says.

“Interest-only loans are becoming harder to get, but as long as you have a deposit and a good job, prospects of getting finance are good.”

Bennett says winter will probably dampen listings but agrees with Bunday that it’s a good tactic to list a property when there’s less competition.

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Winter warmers

• Zig – Zig when they zag. A great time to sell your home when others are waiting on spring.
• Kerb appeal – Rake the leaves, put out some potted winter colour, prune the bushes and mow the lawn.
• Cosy – Highlight the winter cosiness of your home – open fires and the smell of baking biscuits are winners.

Time to sell

A winter home sale is just a matter of the right timing for Kingston apartment dweller Janette Sloan, above.

“We didn’t really think about the season; we just found another property nearby that we wanted to buy,” she says.

Janette and her husband David have put their top-floor “sky home” in the Element complex at Kingston Foreshore on the market.

The spacious, two-storey, three-bedroom apartment enjoys commanding lake views and has given the Sloans their first experience of down-sized living.

“We moved into it from a traditional family-sized home in Narrabundah,” Janette says.

“It was time to reduce the amount of maintenance and responsibility that goes with a bigger home and block.”

Janette says the apartment and living in Kingston Foreshore has been a revelation in lifestyle.

“The apartment is beautifully designed and has plenty of space for us and our guests,” she says.

“We also really love the water views and living close by restaurants and cafes.”

Janette says a strong sense of community has developed in the precinct and new friendships have developed, often over a cup of coffee.

“You’re always bumping into a neighbour and having a chat,” she says.

Agents: Linda Lockwood, Andrew Chamberlain, Peter Blackshaw Manuka, 0411 244 874, 0412 411 422.

Cover property

An extensive use of timber gives a natural, warm feel to this distinctive Carwoola country property, just 30 minutes from Canberra.

No.49 Widgiewa Road sets a new standard of country architecture with its striking roofline and support pylons. The home sits on 5.3 hectares of Carwoola land with views of distant mountains.

Rustic timber fixtures highlight the open-plan design as do the soaring ceilings. The spacious indoor living areas are snugly bordered by extensive  verandahs.

Features include a sunken family lounge set around a central open fireplace, just the spot for winter.

The hub of the home is a timber-lined kitchen, set on parquetry flooring.

There are two generous bedrooms on the ground floor with another on the loft level.

Large covered outdoor entertainment areas are provided by the wraparound verandahs that look onto rolling paddocks and a number of sheds and workshops. There’s also a detached double lock-up garage.

The property is 25 kilometres from Canberra and just a 10-minute drive to Queanbeyan.

Auction: Saturday, June 17, 1.30pm. Inspect: Saturday, June 3, 11.30am-12.15pm; Saturday June 10, 11.30am-12.15pm. Agent: Greg Ward, McGrath Estate Agents Woden, 0413 503 312.