Price boom

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From: Sharon Luttrell


Canberra is currently experiencing a "mini-boom". I've just had my property valued - and the price was considerably more than I thought (yippee! more equity!).

Do any of the Canberra folk have any comments on whether prices might go down once the boom is over or will they just plateau for a while before climbing again?

(I realise no-one knows for sure, just looking for people's opinions).

 

[Michael Croft]

Reply: 1
From: Michael Croft


Hi Sharon,

Rates have come down again and prices will stay firm and rise slightly over the next 3/5 months. Rates are tipped to come down again in December as the world slips into recession. I can't see further than 6 months ahead right now.

We have an election looming and Canberra usually goes quiet until the results are known. On this occasion, if the polls are to be believed, the results are foregone conclusion. So expect more of the same ie, John Howard and similar policies.

Having spoken to many Canberra agents this week they tell me buyer enquiry is strong and listings, whilst improving, are still hard to get.

Michael Croft

 

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Reply: 1.1
From: The Wife


Agree with Michael, I to did the rounds of real estate agents in Canberra last week, same outcome.

TW
~Life is a daring adventure, or nothing at all~