Winter property market surprises and spring predictions, according to Canberra agents

Spring officially begins in a few days and local agents are urging potential home sellers to move now if they want to take advantage of strong prices – and be in their next home before Christmas.

Andrew Curren, who lists Blue House in Fadden (pictured) , says supply of listings was tight over winter leading to some spectacular results.

“A Monash home was put on the market for $649,000 recently and was swamped by potential buyers at its first home open,” he says.

“It eventually sold for $700,000. A few months earlier a $620,000 price would have been realistic.”

Curren says many buyers may have been waiting for the warmer months to place their properties on the market.

“The only issue with that is that everyone is thinking the same,” he says.

“Once supply returns to normal levels, the heat will come off those big prices. The time to act is right now.”

Jacob Stanton of the Independent Group Belconnen cites a similar winter success story – again driven by limited supply.

“We had a home in Chisholm that went on the market at $549,000 – and had 70 groups on its first inspection with 14 offers,” he says.

“It eventually sold for $603,000.”

Stanton says more supply typically comes onto the market in spring and another driver of sales is a need by vendors to be settled into a new home before Christmas with school enrolments sorted.

“If that’s the motive, then it’s time to start talking with your agent about what’s needed to get a home onto the market,” he says.

“Preparation, marketing, the sales process and settlement all take time – there’s only a small window of opportunity.”

Spring fever

Sellers. There’s a shortage of supply in the market and buyers have been competing fiercely. That’s forced prices up so the time to act is right now before supply returns to seasonal norms.

Buyers. Winter has been a season of discontent in terms of supply and competition. Spring should usher in a season of new listings providing choice and an easing of competition.

Timing. Sellers and buyers often want to be in new homes and have school enrolments sorted before Christmas. There’s no time to lose in engaging with the selling cycle to make that happen.

Allhomes’ top pick of auctions this weekend:

10 Decker Place, Fadden

Price guide: $1 million-$1.1 million

4 bedrooms, 3 bathrooms, 2 car spaces

This multiple award-winning bespoke home set over three levels which enjoys panoramic views will appeal to those looking for a home that dares to be different.

Blue House is a Fadden identity, and its fame has extended into publications including 100 Canberra Houses: A Century of Capital Architecture where it is described as “an example of late 20th-century organic style”.

This unique property features recycled timber from the wool stores and wharves of Darling Harbour and a front door from St Augustine’s convent in Balmain.

These warm timbers are contrasted against exposed brick to provide the interior theme while carefully positioned windows and glass features flood light into every room.

The home is staged over three levels: the upper has three bedrooms, a bathroom, music room or second living room and a mezzanine study.

The main level includes the main bedroom with en suite and private patio, the kitchen, dining space and a living room which opens onto a huge wraparound deck.

A large ground level office has its own bathroom and private entrance and could be converted into an apartment.

The home has been designed to fit into its environment and steps down the hill to take advantage of cooling summer breezes and amazing views.

A distinctive, curved Colourbond roof with deep eaves provides shade from the summer sun while bringing winter sun into the upper level.

Auction: 2pm, August 31

Agent: LJ Hooker Tuggeranong, Andrew Curren 0424 288 717