Canberra
- Thread starter craigb
- Start date
Just a small revival of this thread, have you canberrans seen the prices for the north weston land release , it on all homes under land , 900m2 for $650k
i wonder how much these sale prices will reflect on the rest of weston , as i have 1789m2 up here and our UCV is at $610k at the moment? it would be nice to think our value mooved to $1m UCV
My in-laws built in the village right at the top of the new section of Duffy. 2,500sqm, with a 50sqm house. Their land value alone has probably gone up $250k.
Well the market in Canberra is heating up, i have been sitting back and watching for the last 12 months and i have noticed that a lot of those houses that go under offer within a day or two of appearing on all homes, reappear a few weeks later, I just bought one of them
I am glad i have entered the Canberra market now and not in three years time.
I am glad i have entered the Canberra market now and not in three years time.
yes its getting hot around town , a guy i once knew sait that easter is the killer somthing about re-newing contracts and interstate guests, i don't know about that , but somthings happening , somtimes its good for us that we miss some of those boom city storys on TV its like its our little secret, SHHHHH
why not work your way up , and start with mine , it should be on the market soon?
Hi Craig,
Do you intend on buying and building in the new Nth Weston area?
g
why not work your way up , and start with mine , it should be on the market soon?
Post the details or will you be selling at auction?
what we all know. According to this report, Canberra HAS pipped Sydney in median terms. As usual we deon't get much media coverage despite being the capital of oz....
http://www.smartcompany.com.au/prop...-in-february-up-12-7-over-last-12-months.html
http://www.smartcompany.com.au/prop...-in-february-up-12-7-over-last-12-months.html
no , not in the north weston area , but hopfully still in weston , perhaps chapman, i want to build and reno another , i should own this one ,
Correct me if I'm wrong, but I think there's a bit of a funny range in Cbr, between $700-800K, where buyer's interest isn't quite as strong.
That range is too much for FHBs, but older couples with relatively senior public service positions and those looking to upgrade may be looking for something a bit higher (ie. refurbished places in south canberra).
I've no particular evidence to support this, just what I've heard through a number of colleagues who've been buying of late.
We recently bought in Curtin, and were thankful for the fact that the auction took place over a long weekend (these are inevitably quiet - almost comatose - in Canberra) and the tenants had decided to cook a variety of interesting smelling curries for breakfast that morning!
(we are quite fond of curry and complimented them grandly after the hammer fell...)
That range is too much for FHBs, but older couples with relatively senior public service positions and those looking to upgrade may be looking for something a bit higher (ie. refurbished places in south canberra).
I've no particular evidence to support this, just what I've heard through a number of colleagues who've been buying of late.
We recently bought in Curtin, and were thankful for the fact that the auction took place over a long weekend (these are inevitably quiet - almost comatose - in Canberra) and the tenants had decided to cook a variety of interesting smelling curries for breakfast that morning!
(we are quite fond of curry and complimented them grandly after the hammer fell...)
I would agree with that. The entry level market is crowded with first home buyers all competing for limited stock. If you're currently selling an entry level property in Canberra you are in a very strong position. On the flip side, if you're looking to purchase an entry level property in Canberra, you'll be hard pressed trying to find a "bargain" or achieving a significant discount on asking price.
For those properties in the higher price range of say $700k - $800k, competition isn't as strong and the buyer may be in a better position when it comes to negotiating. However, those selling entry level homes are often looking to upgrade which fuels some interest in the higher price ranges.
At the end of the day, "sellers" have it over "buyers" in the current Canberra market.
Jamie
For those properties in the higher price range of say $700k - $800k, competition isn't as strong and the buyer may be in a better position when it comes to negotiating. However, those selling entry level homes are often looking to upgrade which fuels some interest in the higher price ranges.
At the end of the day, "sellers" have it over "buyers" in the current Canberra market.
Jamie
I agree with this too. I went to an auction of an extended and fully renovated cottage, expecting max $1.2m and it went closer to $1.4m. Down the road an unrenovated cottage on a larger block sold at $790k, which was much better value. The demographic was quite different - cashed up professionals vs first home buyers and renovators.
I agree that Canberra is certainly red hot ATM. Unfortunately, we are buyers and our patience has been sorely tested having missed out on 5 potential property purchases over the last 6 weeks or so. Twice we were easily outbid at auctions in the inner north (by 92k and 38k respectively!), once on a private treaty sale with a price+ (we offered 40k over the price and still got outbid by 45k!)
But, now it seems our patience has been rewarded with our offer on a lovely house being accepted this morning. I don't want to jinx us so I won't put any more details on here until after exchange.
Jase
But, now it seems our patience has been rewarded with our offer on a lovely house being accepted this morning.
I don't want to jinx us so I won't put any more details on here until after exchange.Jase
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